The recent Bitcoin price pull-down has impacted many altcoins erasing multi-Billion of gains from the market. Most of the altcoins broke their key-support levels except ADA.
Cardano (ADA) declined to as low as $0.81 but quickly recovered to successfully close above the key support line: hourly 100- simple moving average.

Currently, ADA is trading at a $1.06 level, breaking above the resistance trend line and 61.8% Fin retracement level of the downward wave from the $1.20 swing high to $0.81 swing low. The latest ADA price moment shows positive signs above the $1.00 mark and should continue to push higher with soon to test the resistance level at $1.11. A successful break above the $1.11 level could push ADA price to the previous ATH at the $1.20 level.

Dips supported:

If ADA USD price fails to clear successfully the first resistance level at $1.05 (note: it's currently trading at $1.07, however, it's still yet to be confirmed if it has successfully broken the resistance trend line), the price could correct with initial support at $1.00, followed by $0.95. The hourly 100 simple moving average is also nearing $1.00 that could act as a key support for ADA price.

Technical indicators:

• Based on hourly price change, the MACD is gaining momentum towards the bullish zone and the RSI of ADA/USD is above the 50-level.
• Major support is at $1.00, followed by $0.95.
• Major resistance at $1.05, $1.11 and $1.20.