Cardano ( ADA ) Gains Traction : Is More Upside Ahead ?

This suggests a bullish trend. The price action is also supported by a bullish divergence between the price and the RSI indicator. This divergence indicates that the price is likely to continue rising despite the RSI reaching a high. The price action is also supported by a bullish engulfing pattern, which is a bullish reversal pattern that occurs when the price closes above the previous day’s high and the previous day’s low. This pattern suggests that the price is likely to continue rising.

## Summary of Cardano Price Analysis:

* Cardano price is trading above 23.6% Fibonacci retracement level. * Price is above $0.350 and the 100-hourly SMA. * Potential resistance near $1.3580 zone. **Details:**

* The 23.6% Fibonacci retracement level signifies a key support level for the price, indicating potential for a continuation of the upward trend.

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