Crypto

Cardano (ADA) at a Crossroads: Could Bears Take Control Again?

Cardano price started a fresh decline below the $0.9250 zone. ADA is now correcting losses and struggling to clear the $0.80 resistance.

  • ADA price started a fresh decline from the $0.9250 zone.
  • The price is trading below $0.850 and the 100-hourly simple moving average.
  • There is a key bearish trend line forming with resistance at $0.8050 on the hourly chart of the ADA/USD pair (data source from Kraken).
  • The pair could start another decline if it trades below the $0.7650 support zone.

Cardano Price Faces Resistance

After struggling to stay above the $0.950 level, Cardano started a fresh decline like Bitcoin and Ethereum. ADA declined below the $0.90 and $0.850 support levels.

There was a clear move below the $0.60 support zone. A low was formed at $0.5105 and the price recently started a decent upward move. The price cleared the $0.60 and $0.70 resistance levels. The bulls pumped the price above the 50% Fib retracement level of the downward move from the $0.9828 swing high to the $0.5105 low.

However, the bears are now active near the $0.80 zone. There is also a key bearish trend line forming with resistance at $0.8050 on the hourly chart of the ADA/USD pair.

Cardano price is now trading below $0.80 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.80 zone and the 61.8% Fib retracement level of the downward move from the $0.9828 swing high to the $0.5105 low.

Cardano (ADA) at a Crossroads

The first resistance is near $0.820. The next key resistance might be $0.850. If there is a close above the $0.850 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.9250 region. Any more gains might call for a move toward $1.00 in the near term.

Another Decline in ADA?

If Cardano’s price fails to climb above the $0.80 resistance level, it could start another decline. Immediate support on the downside is near the $0.7650 level.

The next major support is near the $0.7230 level. A downside break below the $0.7230 level could open the doors for a test of $0.6880. The next major support is near the $0.6250 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.

Major Support Levels – $0.7650 and $0.7230.

Major Resistance Levels – $0.8000 and $0.8200.


Source link

Back to top button

Sweet Bonanza

Baccarat Online

Lucky Neko

Slot88

Slot777

Slot Bet 100

Slot777

Slot777

slot bonus

slot gacor gampang menang

sbobet88

sbobet88

daftar slot777

sbobet88

slot starlight princess

sbobet88

slot777 gacor

slot gacor

slot joker123

pragmatic play

bonus new member

slot gacor

pragmatic play

slot deposit qris

Slot777

Slot777

Slot777

Slot88

slot gacor

ARES GACOR

Slot Gacor

GADUNSLOT

sbobet

slot bonus

pragmatic

slot777

pragmatic

pragmatic

pragmatic

sbobet

sbobet

gates of gatotkaca

joker123

slot bonus

slot bet kecil

pragmatic play

slot bet kecil

joker123

Joker123

https://sbobet-gadunslot.matthewwilliamson.com/products/sbobet

https://sbobet-gadunslot.thebotanist.com/products/sbobet-daftar

https://tutordong-garansikekalahan.wonhundred.com/products/slot-garansi-kekalahan-100

https://gadunslot-pastirankslot88.zacbrownband.com/products/slot88-agen-situs-judi-slot-online-terpercaya-no-1

https://sl0t-thailand-gadunslot-gacor.eightoclock.com/products/slot-server-thailand/

https://slottt-thailand.gds.eightoclock.com/products/slot-thailand

https://slotresmi-gadunslot.matthewwilliamson.com/products/slot-resmi

Adblock Detected

Please consider supporting us by disabling your ad blocker