Cardano Price Bounce Hinges on Break Above Crucial Resistance

Cardano's ADA price has rebounded to a level near $0.23, which it had previously used as support before June. The current reaction at this resistance area will decide whether the bounce extends or ends with another pullback.

Technical analyst More Crypto Online believes the ADA bounce remains intact and sees a break above $0.23 as the next objective for buyers.

A look at the 4-day Cardano chart shows ADA trading near $0.225, inside an ascending channel. The channel's lower boundary has helped buyers defend several higher lows, but its upper boundary now meets the $0.23 resistance area.