Cardano Price Analysis: Is ADA Ready to Surge Past the $1.3 Barrier?

Cardano’s price has been consolidating in a wide range on both the USDT and BTC pairs. However, as the price action suggests, an impulsive move is coming soon.

By Edris Derakhshi (TradingRage)

The USDT Paired Chart

On the USDT paired chart, the asset has been moving sideways inside a bullish flag pattern after getting rejected from the key $1.2 level in December.

Yet, with the $0.75 support zone also available nearby, the market did not reverse to the downside completely. With the RSI also rising above 50%, the momentum is bullish once again, which can lead to a breakout above the flag and result in a rally beyond the $1.2 level soon.

The BTC Paired Chart

On the ADA/BTC pair, quite similar price action is being observed. The market has failed to reach the 1500 SAT resistance zone, but the 900 SAT support level has held the market several times, preventing a deeper decline.

With the price gradually returning to a bullish state, ADA will potentially appreciate against BTC in the coming weeks, as it targets the 1500 SAT mark.

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