Cardano (ADA) Price Remains In Uptrend, Dips Are Attractive

ADA price surged higher recently and broke the $0.0500 resistance against the US Dollar.There is a crucial bullish trend line in place with support at $0.0475 on the 4-hours chart (data feed via Kraken).The price remains supported near $0.0475 and $0.0450 and it could soon resume bullish moves.Cardano Price AnalysisThis week, there were heavy bullish moves from the $0.0420 support in cardano price against the US Dollar. The ADA/USD pair started a solid upward move and broke the $0.0450 and $0.0475 resistance levels. Buyers gained traction and pushed the price above the $0.0500 barrier and the 55 simple moving average (4-hours). The price spiked on a couple of occasions above the $0.0530 level and a swing high was formed at $0.0531.Later, the price started a downside correction and traded below $0.0510. There was a break below the 23.6% Fibonacci retracement level of the last wave from the $0.0421 low to…

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