As the yearly trade is on the verge to end soon, many altcoins are gearing up to register a healthy close. Hence, Cardano price has also initiated a journey towards the north by slicing through the mandatory levels around $1.5. The asset quickly inculcated the pre-Christmas boosts and hovered along with the $1.45 resistance levels for a couple of days. However, the ADA price kickstarted the present-day trade above the consolidation, aiming to smash $2 at the earliest.
The asset since the beginning of the present trading month is going parabolic in order to regain its lost position. Despite following a notable uptrend, yet the biggest challenge lies along the asset surpassing the crucial resistance levels at $1.696. This move may not only certify with an upturned but also re-ignite the bull rally.
- The asset if on its way to hit the immediate resistance levels, yet could encounter an interim pullback due to some exhaustion
- However, a notable pullback may be witnessed after the asset breaches through the $1.69 pivotal levels, where-in a pullback to $1.5 or $1.48 levels may be quiet possible
- The Relative Strength Index(RSI) broke the trend line a couple of days before manifesting a bullish trend, as its also finished with a retest also
- A healthy daily close above $1.52 could validate with an uptrend that may escort the price towards the $2 target.
While the crypto space is gearing up to end the yearly trade on a huge bullish note, Cardano is utilizing all its resources to register a yearly close above $2. However, the market sentiments are slowly turning bullish. And ADA price may enjoy a roller coaster ride to hit ATH while other tokens remain calm, as it did in September.