Cardano price started a new decrease of the $ 0.680 zone. Ada consolidates almost $ 0.620 and runs the risk of more losses.
- ADA price started a recovery wave from the $ 0.5850 zone.
- The price acts under $ 0.640 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 0.6350 on the hourly table of the ADA/USD pair (Data source of Kraken).
- The couple could start another increase if it knew the $ 0.640 resistance zone.
Cardano Price Facies Resistance
In the last few sessions, Cardano saw a new fall in the level of $ 0.680, such as Bitcoin and Ethereum. ADA fell under the support levels of $ 0.650 and $ 0.640.
A low point was formed at $ 0.6040 and the price is now losing consolidation. There was a small movement above the level of $ 0.6120. The price tested the 23.6% FIB racement level of the recent decrease of $ 0.6481 Swing high to $ 0.6040 low.
Cardano price is now traded under $ 0.640 and the 100-hour simple advancing average. At the top, the price face resistance near the $ 0.6260 zone and the 50% FIB retracement level of the recent decrease of the $ 0.6481 swing can be high to $ 0.6040 low.
The first resistance is almost $ 0.6350. There is also a connecting Bearish trend line that forms with resistance at $ 0.6350 on the hourly table of the ADA/USD pair. The next key resistance can be $ 0.6480.
If there is an end above the resistance of $ 0.6480, the price can start a strong rally. In the case mentioned, the price could rise to the $ 0.680 region. More profits can ask for a movement to $ 0.70 in the short term.
Another drop in Ada?
If the price of Cardano does not climb above the resistance level of $ 0.6350, this can start a new decrease. Immediate support on the disadvantage is near the level of $ 0.6040.
The next major support is near the level of $ 0.60. A downward break below the $ 0.60 level could open the doors for a test of $ 0.580. The next major support is near the level of $ 0,5550 where the bulls can 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 – $ 0.6040 and $ 0.580.
Important resistance levels – $ 0.6350 and $ 0.6480.
