Cardano's (ADA) price surged over 10%, breaking above the $0.3620 resistance level. Following a recovery from $0.3420, ADA now trades above $0.380 and the 100-hourly simple moving average, showing positive market signals.
There is a bullish trend line with support at $0.3810, suggesting that ADA could continue climbing if it remains above the $0.3800 support zone. Resistance levels are poised at $0.3900 and potentially at $0.4200.
If ADA's price breaks $0.4200, it could see a strong rally towards $0.450 and possibly $0.500. However, a failure to stay above $0.3900 may result in another decline, with key supports at $0.3800 and $0.3650.
Technical indicators support the bullish outlook with the MACD gaining momentum and the RSI above 50.
