Cardano Price Analysis: ADA retraces to $2.65, rejects further downside

TL;DR Breakdown Cardano price analysis is bullish for today.ADA/USD retraced to $2.65 previous minor support yesterday.Cardano consolidated overnight. Cardano price analysis is bullish for today as the market has set another higher low at $2.65 yesterday and consolidated overnight above the support. Therefore, we expect ADA/USD to see further upside today and finally break past the $3 mark next. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the red over the last 24 hours. Market leader, Bitcoin has lost 2.67 percent, while Ethereum has declined by 4.67 percent. Cardano has seen an average decline of 4.55 percent. Cardano price movement in the last 24 hours: Cardano finds support at $2.65 ADA/USD traded in a range of $2.60 – $2.92, indicating a good amount of volatility over the last 24 hours. Trading volume has increased by 3.59 percent and totals $8.98 billion. Meanwhile, the total market capitalization trades around $88.7 billion, ranking the coin in 3rd place overall. ADA/USD 4-hour chart: ADA starts to push higher again On the 4-hour chart, we can see the Cardano price setting another higher low in preparation for another rally later today. ADA/USD 4-hour chart. Source: TradingView Cardano price action has continued to rally over the past week. From the last major swing low of $1.02, set on the 20th of July, ADA/USD has gained 190 percent, with previous swing highs broken along the...