Cardano Price Analysis: ADA/USD Breaks Above $1.25; Price Begins a Journey to New All-Time Highs

ADA Price Analysis – March 17

After trading above the moving averages, the Cardano price continues to rise as the coin touches the daily high at $1.34.

ADA/USD Market

Key Levels:

Resistance levels: $1.48, $1.50, $1.52

Support levels: $1.0, $0.98, $0.96

ADA/USD is currently trading at $1.25 after confirming a daily uptrend and climbing above the 9-day and 21-day moving averages. In case the buyers were able to push the price above the resistance level of $1.35 and the daily candlestick close above this level, then, the price may rally towards the previous high, resistance level of $1.40.

Would Cardano Go Up or Down?

According to the daily chart, the 9-day MA is currently below the 21-day MA and the coin is likewise trading around the resistance level of $1.26 which connotes that the market may likely follow the sideways movement as the technical indicator implies. Meanwhile, the RSI (14) is currently moving in the same direction above the 60-level.

However, should in case the buyers keep the price above the moving averages at the resistance level of $1.30 and the daily candlestick close above this level, then, the price may rally towards the resistance levels of $1.48, $1.50, and $1.52 while the supports could be found at $1.0, $0.98, and $0.96.

ADA/BTC Market: Consolidating Within the Moving Averages

Against Bitcoin, if the market follows a bullish surge, ADA may swing to the resistance level of 2800 SAT and above. Crossing below the 9-day moving average lies the support levels at 1700 BTC and below.

Looking at the technical indicator RSI (14), the coin is currently moving around the 55-level, which may likely cause the market to start moving sideways. Meanwhile, as the 9-day MA remains below the 21-day MA, ADA/BTC may continue to trade on the negative sides.