Cardano's price has been on an upward trajectory in recent hours, breaking above a key moving average indicator. This technical milestone suggests that the cryptocurrency may be poised for further gains.
The 4-hour chart shows improving bullish momentum, with Cardano climbing above $0.27 after rebounding from the $0.249-$0.251 zone. A key signal on the chart is the 9-period EMA, which has turned higher and now acts as near-term dynamic support.
As a result, analysts expect ADA to continue rising towards $0.272-$0.276 if buyers hold control. However, initial support levels are located at $0.268 and the EMA at $0.2658, while a deeper pullback could bring $0.260 back into focus.