• Cardano (ADA) price is rising above the $0.25 level against the US Dollar.
• There is a bearish trend line forming with resistance near $0.278 on the 4-hour chart.
• The price could gain bullish momentum if it clears the $0.278 and $0.300 levels.
Cardano (ADA) Price Analysis
Cardano price is recovering higher above $0.25 against the US Dollar, similar to Bitcoin, after seeing a major decline from well over $0.350 earlier this week. There is a key bearish trend line in formation with resistance near $0.278 on the 4-hour chart which could act as an obstacle for further gains if not breached by ADA/USD bulls soon enough.
Key Resistance and Support Levels
On the upside, immediate resistance can be seen around the $0