Cardano Price began a recovery wave of $ 0.6420. ADA is now facing resistance near $ 0.6850 and may decrease again.
- Ada PRICE has started a recovery wave of $ 0.6420.
- The price is traded less than $ 0.680 and the simple moving average is 100 hours.
- There was a break over the landline line connected to the resistance at $ 0.650 on the ADA/USD (data source from Kraken).
- The husband can start another increase if he wipes the resistance area of $ 0.6850.
Cardano price faces resistance
In the past few days, Cardano has seen a new decrease of $ 0.730, such as Bitcoin and Ethereum. ADA fell to less than $ 0.70 and $ 0.680 support.
A decrease has been formed at 0.6426 dollars and the price is moving again. There was a step higher than 0.6550 dollars. The price scanned the FIB decline level by 23.6 % of the last decrease of $ 0.7298 to a decrease of $ 0.6426. Moreover, there was a break over the landline line connected to a resistance at $ 0.650 on the ADA/USD pair.
However, the bears are active near the resistance of $ 0.6850 and the level of FIB decline by 50 % of the last decrease from a height of $ 0.7298 to the lowest level of $ 0.6426. Cardano PRICE is now trading less than $ 0.680 and a simple moving average 100 hours.
On the upper side, the price may face resistance near the $ 0.680 area. The first resistance is approaching $ 0.6850. The following key resistance may be $ 0.7090. If there is a closure above $ 0.7090, the price may start in a strong rally. In the mentioned case, the price may rise towards a $ 0.730 area. Any other gains may require moving about $ 0.750 in the short term.
Another drop in Ada?
If the price of Cardano fails to rise above the 0.6850 -dollar resistance level, another decrease may start. Immediate support on the negative side is near the level of $ 0.6630.
The next main support is near the level of $ 0.6500. The negative side break can open less than $ 0.650 to test $ 0.6320. The next main support is near the level of $ 0.6175 where 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 – $ 0.6630 and $ 0.6500.
Main resistance levels – $ 0.6850 and $ 0.7090.
