Cardano $ADAUSD Target PTs 2.70-4 and higher
Cardano (ADA) pierced the $1.48 overhead resistance today and climbed to an intraday high at $1.55. However, the bulls have not been able to sustain the breakout as seen from the long wick on the candlestick.
The bears have pulled the price back into the $1.48 to $1.03 range. They will now try to sink the ADA/USDT pair to the 20-day EMA ($1.24).
If the price rebounds off the 20-day EMA, the bulls may make one more attempt to push the pair above the overhead resistance at $1.55. If they succeed, the pair could rally to $2.
On the contrary, if the bears sink the price below the moving averages, a drop to $1.03 is possible.
The bears have pulled the price back into the $1.48 to $1.03 range. They will now try to sink the ADA/USDT pair to the 20-day EMA ($1.24).
If the price rebounds off the 20-day EMA, the bulls may make one more attempt to push the pair above the overhead resistance at $1.55. If they succeed, the pair could rally to $2.
On the contrary, if the bears sink the price below the moving averages, a drop to $1.03 is possible.
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