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- Cardano price has seen a 26% ascent to $1.35 between January 10 and January 13.<\/strong><\/li>\n
- As ADA retests the $1.35 barrier for the fourth time, there could be a breakout, triggering another leg-up.<\/strong><\/li>\n
- A breakdown of the weekly support level at $1.20 could dent the bullish thesis.<\/strong><\/li>\n<\/ul>\n
Cardano price saw a massive uptick in buying pressure<\/a> over the past five days and shows signs this trend could continue. ADA needs to clear one crucial hurdle to confirm the persistence of the bullish outlook.<\/p>\n
Cardano price at make or break point<\/strong><\/h2>\n
Cardano price rose roughly 26%<\/a> from January 10 and January 13, setting up a swing high at $1.35. Soon after, ADA retraced 10% and reversed the trend resulting in full reversal and a retest of the $1.35 barrier again.<\/p>\n
From January 4 to January 16, ADA has tagged this barrier five times. Therefore, there is a high chance this level has weakened and the most recent retest could break through. Assuming ADA bulls push through, the altcoin would visit the $1.38 barrier and collect the buy-stop liquidity resting above it.<\/p>\n
In a highly bullish case, ADA will make a run for the weekly resistance barrier present just below the four-hour supply zone, extending from $1.46 to $1.52. While ADA might not retest $1.52, there is a good chance Cardano price could tag the $1.46 hurdle, bringing the total ascent<\/a> to 9% from the current position.<\/p>\n
This move would suggest that the five-month downtrend could be due for a reversal and that investors can expect ADA to start its bullish regime.<\/p>\n
![\"ADA\/USDT](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ADAPERP_2022-01-16_10-01-38-637779050220954295.png\")
<\/a><\/p>\nADA\/USDT 4-hour chart<\/small><\/p>\n
On the other hand, if Cardano price fails to breach through the $1.35 barrier, it will indicate that the hurdle is tough. This rejection could lead to a downtrend that retest the weekly support level at $1.20. Here, buyers can band together for a comeback, but a four-hour candlestick<\/a> close below it will dent the optimism and likely invalidate the bullish thesis.<\/p>\n
In such a case, ADA could bounce off the daily demand zone, extending from $1.20 to $1.02.<\/p>\n
\n - As ADA retests the $1.35 barrier for the fourth time, there could be a breakout, triggering another leg-up.<\/strong><\/li>\n