Cardano Analysis (ADA) Tuesday, April 13
The price of Cardano digital currency has increased by about 10% in the last 48 hours. Due to the 12-hour time frame, an important level of resistance has prevented price growth. In the last month, the price has hit this level several times but has not been able to cross it.
Looking at the 12-hour timeframe, we notice the formation of an ascending triangle pattern. This pattern consists of an uptrend line and a horizontal trend line.
The resistance level of this pattern is in the range of $ 1.35. The price is currently fluctuating in the range of $ 1,317 and is only 2.% away from this level. If Cardano can cross this resistance level, then one can expect a price increase of up to $ 1.647.
However, a significant resistance has formed at $ 1.47 and the price has hit it twice in the last month.
If the resistance does not break $ 1.35, the price will fall to the uptrend line at $ 1.24. Next, if the price penetrates below the level of this pattern, we will see a 22% drop to $ 0.96. In this way, $ 1.15 and $ 1.04 levels will play a supporting role.