Cardano (ADA) at a Crossroads: Could Bears Take Control Again?
Cardano Price began to decrease in areas below $ 0.9250. ADA is now correcting losses and strives to remove a $ 0.80 resistance.
- Ada Price has declined from a area of ​​$ 0.9250.
- The price of price transactions is less than $ 0.850 and a simple moving average of 100 hours.
- On the ADA/USD (Kraken data source), there is a key drop of trend line with a resistance of $ 0.8050.
- If the transaction price is less than $ 0.7650, the couple may fall again.
Cardano price faces resistance
After trying to maintain a level higher than $ 0.950, Cardano began a new decline Bitcoin and EthereumEssence ADA fell below $ 0.90 and $ 0.850.
The obvious movement of the support area below $ 0.60. The low price is $ 0.5105, and the price has recently risen well. The price cleared the resistance level of $ 0.60 and $ 0.70. Bulls retrace the FIB with a price higher than 50 %, from a swinging speed of $ 0.9828 to 0.5105 $ 0.5105.
However, bears are active near the $ 0.80 area. On the ADA/USD pair of charts, there is also a key drop trend line with a resistance of $ 0.8050.
Cardano Price’s current transaction price is less than 0.80 US dollars and a simple moving average of 100 hours. In good aspects, the price may face resistance near the area of ​​$ 0.80, and the decline rate is from 0.9828 to a 61.8 % FIB recycling level of 61.8 % of 0.5105 $ 0.5105.
The first resistor is nearly $ 0.820. The next key resistance may be $ 0.850. If the resistance is higher than $ 0.850, the price may begin strong rally. Under the state of statement, the price may rise towards a $ 0.9250 area. In the short term, more returns may require transfer to $ 1.00.
Another reduction of ADA?
If Cardano’s price cannot climb to more than $ 0.80, it may drop again. Immediately support the level of $ 0.7650.
The next main support is close to $ 0.7230. The shortcomings of less than $ 0.7230 may open the door to test $ 0.6880. The next supports the 0.6250 level that may appear close to the bull.
Technical indicator
MACD -ADA/USD’s MACD every hour loses motivation to watch the bullish area.
RSI (relative intensity index) -ADA/USD’s RSI is now higher than level 50.
Main support level-$ 0.7650 and 0.7230 US dollars.
The main resistance level-$ 0.8000 and $ 0.8200.
