The price of Cardano (ADA) has been struggling to break above the $0.65 resistance level. Despite attempts by buyers to test the recent high, they have been unsuccessful so far.

Looking at the long-term forecast for Cardano, it appears to be bullish. The cryptocurrency has pulled back above the 21-day SMA multiple times. On December 18, Cardano reached a low of $0.54, but has since rebounded and is currently trading at $0.58.

Currently, Cardano is trading within a price range of $0.52 to $0.65. The price action has been limited by the presence of doji candlesticks, which indicate indecision in the market. However, the bulls have managed to hold the support level at $0.52. The altcoin is currently trading at $0.58, right in the middle of its price range.

When analyzing the indicators, the price bars are above the moving average lines and are rising upwards. The support line is the 21-day SMA, and the cryptocurrency is consolidating above the support level of $0.56. On the 4-hour chart, the moving average lines are sloping horizontally due to the sideways trend.

Key resistance zones for Cardano are at $0.50, $0.55, and $0.60, while key support zones are at $0.30, $0.25, and $0.20.

As for the next move for Cardano, the ADA/USD pair is currently trading sideways after the upswing on December 9. The altcoin is hovering between $0.52 and $0.65. As long as it continues to trade above the moving average lines, it has the potential to continue rising and reach a high of $0.80.

It’s important to note that this analysis and forecast are the personal opinions of the author and should not be taken as a recommendation to buy or sell cryptocurrency. Readers are advised to do their own research before making any investment decisions.