Cardano (ADAUSD) Price to Bounce up to Level $1.238

Cardano (ADAUSD) Price Forecast: April 30

ADAUSD holds a recovery opportunity with a bullish reversal pattern. The coin may bounce up to level $1.238 as it faces the upper channel. Meanwhile, the potential breakout from the immediate resistance of $0.718 will give additional confirmation for a bullish recovery, if the bulls could increase their efforts in the market. Due to this, the $1.238 high level might be the target.

Key Levels:
Resistance Levels: $1.027, $1.028, $1.029
Support Levels: $0.579, $0.578, $0.577

ADA (USD) Long-term Trend: Bullish (Daily Chart)

Cardano is bullish in its long-term outlook. The price is advancing and may bounce up to a level of $1.238 as the market value remains above the supply level, indicating a bullish momentum and a shift in market structure.
The crypto price remains firm above the supply levels in its recent high due to an increasing order flow by the bulls.

Today’s daily bullish candle at the $0.718 resistance mark above the moving averages confirms the bulls’ dominance in the market.

This breakup may possibly accelerate the bullish momentum and extend the ongoing correction to a higher level at $1.166 previous high level, if the bullish trend persists.

Additionally, the price of ADAUSD might increase further if the bulls could push harder. If achieved, the crypto price might bounce up to $1.238 resistance level in the near days in its higher time frame.

ADA (USD) Medium-term Trend: Bullish (4H Chart)

The coin is displaying a bullish posture in its medium-term outlook and may bounce up to a higher level. The price is above the supply level due to the high inflow from the long traders, suggesting a bullish trend.
The increase in the momentum by the bulls at the $0.710 supply value in the last session has enabled the Cardano price to stay strong above the resistance line.

The market price of ADAUSD has just broken up the EMA-50 at the $0.718 supply level as the 4-hourly chart opens today, offering a good buy entry for interested traders.

Furthermore, the daily stochastic signals an uptrend, if the bulls could push harder and sustain the coin price above the $0.745 previous high, the resulting rally may surpass the $0.900 level and bounce up to $1.238 psychological level at the upside in the days ahead in its medium-term perspective.

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