Cardano Price has started a new decrease less than $ 0.9250. Ada is now correcting losses and struggling to scan the resistance of $ 0.80.
- ADA PRICE has started a new decrease from $ 0.9250.
- The price is traded less than $ 0.850 and the simple moving average is 100 hours.
- There is a major landing line formed with resistance at $ 0.8050 on the ADA/USD (data source from Kraken).
- The husband can start another decrease if it trades less than the support area of $ 0.7650.
Cardano price faces resistance
After struggling to stay higher than $ 0.950, Cardano has started a new decrease like Bitcoin and Ethereum. ADA decreased to less than the support levels of $ 0.90 and $ 0.850.
There was a clear step less than the support area of $ 0.60. A decrease has been formed at $ 0.5105 and the price recently started a decent upward step. The price has wiped the resistance levels of $ 0.60 and $ 0.70. Pumping the price is 50 % higher than the RENDRACTION level of the downtomous move from the alternative of $ 0.9828 to $ 0.5105.
However, the bears are now active near the $ 0.80 region. There is also a major downward trend line that is formed with resistance at $ 0.8050 on the ADA/USD chart.
Cardano PRICE is now trading less than $ 0.80 and a simple moving average 100 hours. On the upper side, the price may face resistance near the $ 0.80 and REERERRERENING level 61.8 % of the declining move from the alternative of $ 0.9828 to $ 0.5105.
The first resistance is approaching $ 0.820. The following key resistance may be $ 0.850. If there is a closure over $ 0.850, the price may start in a strong gathering. In the specified case, the price may rise towards a $ 0.9250 area. Any other gains may require moving about $ 1.00 in the short term.
Another decrease in Ada?
If the price of Cardano fails to rise above the resistance level of $ 0.80, another decrease may start. Immediate support on the negative side is near the level of $ 0.7650.
The next main support is near the level of $ 0.7230. The negative side break can open less than $ 0.7230 to test $ 0.6880. The next main support is near the level of $ 0.6250 as bulls may appear.
Technical indicators
Every MACD – MACD for Ada/USD loses momentum in the upscale area.
RSI Hour (Relative Power Index) – RSI for Ada/USD is now higher than 50 level.
Main support levels – $ 0.7650 and $ 0.7230.
Main resistance levels – $ 0.8,000 and $ 0.8200.
