Cardano (ADAUSD) Remains Open for Bullish Expansion

Cardano (ADAUSD) Price Forecast: March 5

ADAUSD pair holds a recovery opportunity and remains open for bullish expansion with a bullish reversal pattern. There is an opportunity to buy the coin as the price trends up. However, the token price will increase above the current resistance level at $0.987 if buyers exert more force into the price action. The $1.190 high trend line might be retested, exposing the market price to a $1.200 upper high mark, as it experiences a remarkable surge.

Key Levels:
Resistance Levels: $0.900, $0.950, $0.970
Support Levels: $0.760, $0.750, $0.740

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

Cardano remains open for bullish expansion with high volume from the bulls in the long-term view. Prices are trading above the EMA-50, approaching the overhead resistance, confirming its bullishness.
The bulls’ pressure on the coin to a $1.135 resistance level in the previous action has enabled the crypto to retain its upward growth in recent times.

After testing the low of $0.930, the ADAUSD price pulled back to a $0.987 high level above the EMA-50 approaching the overhead resistance on the long-term chart today, indicating that the buying traders are actively buying for bullish expansion at this level.

Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the prices of Cardano higher to hit the previous high at $1.190 level, bolstering buyers for a sustainable rally.

In addition, the crypto market is pointing up on the daily stochastic, implying that the ADAUSD pair is open for a bullish expansion. In light of this, the token price might hit the $1.200 supply trend mark in the near days, registering a buy signal for coin traders soon in its higher time frame.

ADA (USD) Short-term Trend: Bullish (1H Chart)

The ADAUSD pair is also displaying a bullish posture and remains open for bullish expansion in its short-term outlook, due to the high inflow from long traders.
The sustained bullish pressure at the $1.072 supply level in the last session has led to the coin’s recent high.

The buying team has decided to shift the trend up after a series of low dips shortly after today’s 1-hourly chart opens.

The current price at a $0.987 high level is a pullback and suggests the returns of the buying traders as the token remains open for bullish expansion.

The market participants are reacting to this pattern, and its breakout should offer a good buy entry opportunity.

Hence, the Cardano market is pointing up on the daily indicator, implying that the buying pressure may continue, and suggests a possible bullish expansion, leading the crypto price to a $1.200 supply level in the coming days in the short-term forecast.

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