Cardano Price Analysis: ADA slowly consolidates above $2, prepares to rally today?

TL;DR Breakdown Cardano price analysis is bullish for today.ADA/USD continued to consolidate above the $2 mark overnight.ADA is set to target $2.4 next. Cardano price analysis is bullish for today as a strong base from which to rally has been established above the $2 mark. Therefore, we expect ADA/USD to reverse again and continue to rally further along the overall trend. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the red over the last 24 hours. Bitcoin is down by 1,79 percent, while Ethereum by 2.5 percent. Solana (SOL) is among the best performers, with a gain of almost 19 percent. Cardano price movement in the last 24 hours: Cardano still holds above $2 support ADA/USD traded in a range of $2.03 – $2.18, indicating mild volatility over the last 24 hours. Trading volume has decreased by 25.3 percent and totals $3.99 billion, while the total market capitalization trades around $67 billion, ranking the cryptocurrency in 4th place overall. ADA/USD 4-hour chart: prepares for another rally? On the 4-hour chart, we can see the Cardano price respecting the $2 support once again overnight, indicating that the market will continue to rally over the next 24 hours. ADA/USD 4-hour chart. Source: TradingView Cardano price has rallied by almost 120 percent over the past month after a major swing low was established above the $1 mark. The previous two swing highs at $1.50 and $1.90 were broken o...