Cardano (ADA) Price Rally Could Extend Beyond $0.1000

ADA price surged more than 20% after forming a support base near $0.0565 against the US Dollar.The price traded above the key $0.0700 and $0.0800 resistance levels in the past three sessions.There was a break above a couple of declining channels or bullish flags at $0.0620 and $0.0710 on the 4-hours chart (data feed via Kraken).The price pumped above the $0.0900 level and tested the $0.0950 resistance level.Cardano Price AnalysisRecently, there was a strong rise in the cryptocurrency market as bitcoin price climbed above the $5,000 level. It helped cardano price in gaining bullish momentum above the $0.0700 resistance against the US Dollar. Earlier, the ADA/USD pair formed a solid support base near the $0.0565 level and started an upside move. It settled above the $0.0600 level and the 55 simple moving average (4-hours) to move into a positive zone.Besides, there was a break above a couple of declining channels…

Read the original article here