ADA Price Underperforms: Can Cardano Catch Up with Other Altcoins?

May 22, 2024 04:00 am Cryptocurrency 834

Cardano (ADA) is struggling to start a fresh increase above the $0.500 resistance zone. ADA must stay above the $0.480 support to start a decent upward move.

ADA price is struggling to gain bullish momentum above the $0.50 zone.

The price is trading above $0.480 and the 100-hourly simple moving average.

There is a key bullish trend line forming with support near $0.480 on the hourly chart of the ADA/USD pair (data source from Kraken).

The pair could gain bullish momentum if there is a close above $0.500.

Cardano Price Remains Supported

In the past few days, Cardano started a recovery wave from the $0.4620 zone, but lagged behind Bitcoin and Ethereum. ADA price broke the $0.4750 and $0.480 levels to move into a short-term bullish zone.

The price even spiked above $0.50 but it failed to continue higher. ..

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