- Cardano price expected to breakout to the $0.4750 mark.
- The closest support level lies at $0.4250.
- ADA faces resistance in crossing above the $0.4500 mark.
Cardano price action has broken above the consolidating channel it has traded in since mid-January. The price faced strong resistance at the $0.3750 and the $0.4000 levels. However, the recent bull rally has broken above both resistances as the price climbed to the $0.4500 mark.
While Bitcoin continues to trade inside its consolidating range, Ethereum has once again risen above the $1,400 mark. On the other hand, Cardano price has broken out of its previous trend, initiating a bull rally towards the $0.5000 mark. The price currently observes a 6.14 percent increase from the day’s opening price.