Cardano Price Forecast, Can Van Rossem Fork Run ADA to $0.3?

Cardano/USDT (15 min chart)

ADA is tightly wedged between a resistance structure formed by the red line from a recent high of $0.2718 and a steady ascending green line near $0.2680 acting as the support line. It is a point where bulls can cause a break of structure and rally the price towards the $0.2767 resistance. Below this level, the price could take a hit toward the macro accumulation zone at the $0.25 mark.

However, the recent movement on the chart brings some relief to the retailers as the price action shows bulls resisting a drop below the support at $0.2625. The triangle formation shows the crossover apex between the trend lines and hints that a volatile breakout is highly possible if the price continues to close above the trendline.

Editors Note

Cardano blockchains development and the leadership of Charles Hoskinson have earned the trust of the crypto community. Recent developments created a positive outlook in the community, which is excited about the growth of ADA. However, the token has failed to retain its high of $1.1747 it managed to make during last years bull run.

For the coin to successfully trigger a rally, a convincing high-volume breakout above the red ascending trend line and a close above the $0.28 level are essential. If the conditions are met, the coin can experience a price surge targeting the $0.304 range. However, if the candle closes below the green ascending trend line with a confirmation on the 15-minute chart, the bearish move can cause the token to dip towards the previously mentioned macro accumulation zone.