Cardano price started a new fall under the $ 0.9250 zone. Ada now corrects losses and is struggling to erase the $ 0.80 resistance.
- ADA price started a new decrease of the $ 0.9250 zone.
- The price trades under $ 0.850 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 0.8050 on the hourly table of the ADA/USD pair (data source of Kraken).
- The couple can start a new decline if it is traded under the $ 0.7650 support zone.
Cardano Price Facies Resistance
After he had trouble staying above the level of $ 0.950, Cardano started a new decrease such as Bitcoin and Ethereum. ADA fell under the support levels of $ 0.90 and $ 0.850.
There was a clear movement under the $ 0.60 support zone. A low point was formed at $ 0.5105 and the price recently started a considerable upward move. The price knew the resistance levels of $ 0.60 and $ 0.70. The bulls pumped the price above the 50% FIB retracement level of the downward movement of the $ 0.9828 Swing high to $ 0.5105 low.
However, the bears are now active in the vicinity of the $ 0.80 zone. There is also an important bearish trend line that forms with resistance at $ 0.8050 on the hourly table of the ADA/USD pair.
Cardano price is now traded under $ 0.80 and the 100-Urly simple advancing average. At the top, the price facial resistance near the $ 0.80 zone and the 61.8% FIB retracement level of the downward movement of the $ 0.9828 swing can be high to $ 0.5105 low.
The first resistance is almost $ 0.820. The next key resistance can be $ 0.850. If there is an end above the resistance of $ 0.850, the price can start a strong rally. In the case mentioned, the price could rise to the $ 0.9250 region. More profits can ask for a movement for $ 1.00 in the short term.
Another decline of Ada?
If the price of Cardano does not climb above the resistance level of $ 0.80, this can start a new decrease. Immediate support on the disadvantage is near the level of $ 0.7650.
The next major support is near the level of $ 0.7230. A downward break below the level of $ 0.7230 can open the doors for a test of $ 0.6880. The next major support is near the level of $ 0.6250 where the bulls could arise.
Technical indicators
Hourly MacD – The MACD for ADA/USD loses Momentum in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for ADA/USD is now above 50 -level.
Important support levels – $ 0.7650 and $ 0.7230.
Important resistance levels – $ 0.8000 and $ 0.8200.