Cardano price started a new fall in the $ 1.00 zone. Ada is consolidating and can stay under the support of $ 0.9350.
- ADA price started a new decrease of the $ 1.00 zone.
- The price acts under $ 0.950 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line with support at $ 0.950 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 $ 0.9350 support zone.
Cardano -Price turns red
After he had trouble staying above the level of $ 1.00, Cardano started a new decrease in contrast to Bitcoin and Ethereum. ADA fell under the support levels of $ 0.9650 and $ 0.950.
There was a clear movement under the $ 0.950 support zone. By the way, there was a break under an important bullish trend line with support for $ 0.950 on the hourly table of the ADA/USD pair. The couple even traded below the 50% FIB retracement level of the upward movement of the $ 0.9007 Swing Low to $ 0.9881 High.
Cardano price is now traded under $ 0.950 and the 100-hour simple advancing average. At the top the price can resist the $ 0.950 face zone. The first resistance is almost $ 0.9650.
The next key resistance can be $ 0.9880. If there is an end above the resistance of $ 0.9880, the price can start a strong rally. In the case mentioned, the price could rise to the $ 1.00 region. More profits can ask for a movement to $ 1,050 in the short term.
Another decline of Ada?
If the price of Cardano does not climb above the resistance level of $ 0.950, this can start a new decrease. Immediate support on the disadvantage is close to the level of $ 0.940 and the 100-hour simple advancing average.
The next major support is close to the $ 0.9350 level or the 61.8% FIB retracement level of the upward movement of the $ 0.9007 Swing low to $ 0.9881 High. A downward break below the level of $ 0.9350 can open the doors for a test of $ 0.9040. The next major support is near the level of $ 0.8550 where the bulls could arise.
Technical indicators
MACD per hour – The MACD for ADA/USD is gaining strength in the bearish zone.
Picly RSI (Relative strength -Index) -The RSI for ADA/USD is now below the 50 -level level.
Important support levels – $ 0.9400 and $ 0.9350.
Important resistance levels – $ 0.9500 and $ 0.9880.
