Cardano’s price has reached an inflection point, and ADA is expected to retest $1.45.
Between January 10 and January 13, the price of Cardano increased by 26% to $1.35.
As ADA retests the $1.35 level for the fourth time, a breakthrough might occur, initiating another leg up.
A violation of the weekly support level at $1.20 would be a blow to the bullish case.
Cardano’s price has seen a significant increase in purchasing pressure over the last five days, with hints that this trend may continue. To affirm the continuation of the positive outlook, ADA must overcome one critical obstacle.
Cardano’s price is at a tipping point
Cardano’s price increased by around 26% from January 10 and January 13, establishing a swing high of $1.35. Soon after, ADA retraced 10% and reversed the trend, culminating in a complete reversal and retest of the $1.35 barrier.
ADA marked this obstacle five times between January 4 and January 16. As a result, there is a good likelihood that this level has weakened and that the most recent retest will break through. Assuming ADA bulls go through, the cryptocurrency would reach the $1.38 resistance level and collect the buy-stop liquidity that sits above it.
