Cardano Prediction: Can ADA Smash Through the $0.40 Barrier?

ADA token shows strong resilience with four-day price surge

• #Cardano price has recently surpassed the $0.3850 resistance level, showing a steady increase.

• $ADA aims to secure a close above $0.40 to establish bullish momentum.

• Since reaching a peak of $0.80 on March 14, #Cardano's price steadily declined to $0.40 by mid-April, with minor rebounds but no breakthrough above $0.50.

• The price of $ADA has been confined within a falling wedge pattern since the beginning of the year, approaching the consolidation's edge.

• Despite multiple recovery attempts in the last three months, ADA has struggled to exceed the $0.50 mark and has trended downward.

• On July 5, ADA broke a critical horizontal support level, dropping to a low of $0.32.

• Following this breach, ADA saw a positive turn in performance, gaining 27%.

• As per Coingabbar analysis, Breaking this support could signal ADA's bullish trend above $0.40, potentially rising 22%, surpassing June's high.

• Conversely, if ADA fails to hold above this level, it might retest the immediate support at $0.33 and potentially drop below $0.30.

KEY LEVELS :

RESISTANCE LEVEL : $0.4500-$0.5200

SUPPORT LEVEL : $0.3600-$0.3200

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