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- Cardano price has produced four lower highs throughout the month, with three connected by a recently breached trendline.<\/strong><\/li>\n
- A hurdle above $0.322 could create an additional 12% upswing.<\/strong><\/li>\n
- A four-hour candlestick close below the $0.304 level would invalidate the bullish potential.<\/strong><\/li>\n<\/ul>\n
Cardano price shows unbreached liquidity levels within arms reach of the current auctioning price. Traders should keep their eyes on the ADA price action as a profitable opportunity could present itself in the coming hours.<\/p>\n
Cardano price is likely to return to $0.350 eventually<\/strong><\/h2>\n
Cardano price may be able to retaliate against the bullish onslaught that has persisted throughout November. During the month, the bears produced four rejections, each at a lower price than the previous. The consistent win rate portrayed by the bears has likely enticed retail traders to join the trend and creates significant liquidity above each swing high.\u00a0<\/p>\n
Cardano price currently trades at $0.309, below the most recent swing high at $0.322. The bulls have failed their first attempt<\/a> to hurdle the 8-day exponential moving average, but the rejection has provoked a retest of a trendline that connects the last three swing highs.<\/p>\n
If the ADA price stabilizes above the aforementioned level, the subsequent retest of the 8-day exponential moving average could induce a much larger counter-trend rally.<\/a><\/p>\n
![\"tm\/ada\/11\/29\/22\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ADAUSDT_2022-11-29_18-10-21-638053649268424527.png\")
<\/a><\/p>\nADA\/USDT 4-Hour Chart<\/small><\/strong><\/p>\n
The first target to aim for will be the 21-day simple moving average at $0.323. A 4-hour candlestick closes above the moving average could induce a rise toward the third swing high established on November 15 near $0.35. The bullish scenario creates a potential for the Cardano price to rise by 11%.<\/p>\n
Still, the technicals are subject to evolve and remain bearish. A 4-hour candle stick close below the retesting trend line would create a potential<\/a> for an 11% decline targeting the $0.280 price zone.\u00a0<\/p>\n
\n - A hurdle above $0.322 could create an additional 12% upswing.<\/strong><\/li>\n