Cardano (ADA) Price is Breaking Out. Here are Upside Targets

Cardano (ADA) price is attempting to break out of the range that has contained the price action in the past several weeks.

ADA price is up over 7.5% today to trade above the 100-DMA at $2.22, as well as above the descending trend line that provided resistance since mid-September.

A daily close above the $2.23 would open the door for a push towards $2.50, and a 61.8% Fibonacci retracement line that sits at $2.62. The prior resistance near $2.25 is likely to provide support for any pullback that may take place from these levels.

Cardano price is up over 15% in November after dropping 7% in October.

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