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ADA Price Analysis: Anticipated Triangle Range Breakout on ADA/USD, Following Latest Hydra Solution for Micropayments on Cardano

*Anticipated breakout of triangular range in ADA/USD beyond resistance level of $0.0320
*ADA is making an effort to surge past key barriers against the US dollar
*IOHK announced the launch of the Ouroboros Hydra protocol

ADA/USD Daily Chart: Ranging

The chart shows that the ADA price is trying to consolidate underneath the $0.0320 resistance level within a narrow triangle range. If a clear break exceeds $0.0320 level, the price may probably increase rapidly. If it’s the latter, there is a possibility of a sudden fall underneath the level of $0.0260.

Immediate resistance on the 4-hour time frame is close to the $0.0298 level. If the price increases beyond the resistance levels of $0.0298 and $0.0320, it may begin a steep rise in the near term. The next big obstacle is close to the level of $0.0370, above which the price is likely to go higher to the level of $0.0400 beyond the triangle’s limit.

Image Credit: Shutterstock

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