TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

The price of Cardano (ADA) has shown bullish signs and could be set for a major run against Tether (USDT) after bouncing from key support. Ethereum price rallied with so much strength from a region of $1,670 to $2,000 ahead of Ethereum merge. This has brought relief bounces for many altcoins, including the price of Cardano (ADA). Related Reading: Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon Ethereum merge is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) so as to increase its network efficiency in transactions. (Data feeds from Binance) Price Of Cardano (ADA) Weekly Chart Analysis From the chart, the price of ADA saw a weekly low of around $0.4, which bounced from that area and rallied to a price of $0.55. The price has built more momentum as it faces resistance at $0.66. If the price of ADA on the weekly chart continues with this bullish structure, it could quickly revisit $0.66 and trend higher to $0.75. Weekly resistance for the price of ADA – $0.66. Weekly support for the price of ADA – $0.45. Price Analysis Of ADA On The Daily (1D) Chart The price of ADA found strong support at around $0.45, with what seems to be an area of interest on the daily chart. ADA bounced from its support and has rallied as it faces resistance at $0.63. The price of ADA has continued to range in a channel; breaking out of this channel could send the price of ADA to the resist...