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Cardano Price Analysis: This Resistance Blocks ADA’s Path Toward $2

  • Cardano's price has been following Bitcoin over the past few weeks but is yet to create a new record high.
  • The $1.2 resistance level is preventing further rise in the ADA/USDT chart, while the market remains bullish as long as the $0.75 support zone holds.
  • The ADA/BTC chart shows a head and shoulders pattern above the 1000 SAT area, with a potential drop towards the 200-day moving average if the neckline breaks down.
  • If the 1000 SAT area holds, a rally towards the 1500 SAT resistance zone is likely in the coming weeks.

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