Cardano price started a fresh decrease in the USD 1.00 zone. Ada consolidates and can still go down below the support of 0.9350 USD.
- Ada Price began a fresh decrease in the USD 1.00 zone.
- The price is trade below 0.950 USD and 100-hour straight movable average.
- There was a break below the key stubborn trend line with the $ 0.950 service on the chart of the ADA/USD hour pair (data source from Kraken).
- The couple may start another decrease if they trade below $ 0.9350 support zone.
Cardano price becomes red
After the fight to stay above USD 1.00, Cardano began a fresh decrease as opposed to Bitcoin and Ethereum. Ada has fallen below the levels of support 0.9650 USD and USD 0.950.
Below the 0.950 USD support zone has been clear. In addition, there was a break below the key stubborn trend line with the $ 0.950 support on the chart of the hourly pair of ADA/USD. The pair traded even below 50% of the level of withdrawal of Movement FIB from a swing worth 0.9007 USD up to $ 0.9881.
Cardano Price is currently an item than USD 0.950 and a 100-hour elementary movable average. On the other hand, the price may encounter resistance near the USD 0.950 zone. The first resistance is almost USD 0.9650.
Another key resistance can be 0.9880 USD. If it exceeds USD 0.9880, the price may start a powerful rally. In the given case, the price may augment towards the $ 1.00 region. Any profits may require a transition towards USD 1.050 in the near future.
Another decrease in Ada?
If the Cardano price does not augment above the level of resistance 0.950 USD, it may start another decrease. Immediate support in the minus is close to USD 0.940 and a 100-hour elementary movable average.
Another earnest support is located near the USD 0.9350 or FIB slimming level in the amount of USD 61.8% from $ 0.9007 to the highest level of USD 0.9881. The inheritance break below USD 0.9350 can open the door to the 0.9040 USD test. Another earnest support is located near the USD 0.8550, where bulls may appear.
Technical indicators
MacD – MacD for ADA/USD takes rush in the bear zone.
RSI hours (relative strength indicator) – RSI for ADA/USD is now below level 50.
Main support levels – USD 0.9400 and USD 0.9350.
Main resistance levels – USD 0.9500 and USD 0.9880.
