Kraken News: Cardano (ADA) Recovery Wave and Potential for Further Gains

Cardano (ADA) Next Move—Are Traders Eyeing a Big Push Higher?

Cardano price started a recovery wave above the $0.720 zone and corrected some gains. It might find bids near the $0.7380 zone. The price is trading above $0.720 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $0.7385 on the hourly chart. The pair could start another increase if it clears the $0.7550 resistance zone. In the past few days, Cardano saw a recovery wave from the $0.690 zone, similar to Bitcoin and Ethereum. ADA was able to climb above the $0.720 and $0.7320 resistance levels and even cleared the $0.750 resistance zone. A high was formed at $0.7661 and the price is now consolidating gains.

Bitcoin Price Finds Support—But Can It Power Through $90K?

Bitcoin price remained supported above the $85,500 zone and has started a fresh recovery wave above the $87,000 zone. The price is currently trading above $87,000 and the 100 hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $88,200 on the hourly chart. If Bitcoin clears the $88,000 and $88,200 levels, it could start another increase.