Cardano price began a fresh decrease in relation to the zone 0.680 USD. Ada consolidates nearly 0.620 USD and is threatened with larger losses.
- Ada Price began a recovery wave from the USD 0.5850 zone.
- The price is sold below 0.640 USD and a 100-hour straight movable average.
- There is a connecting line of bears trend formed with a resistance of USD 0.6350 on the chart of the hourly pair of ADA/USD steam (data source from Kraken).
- The couple can start another augment if they immaculate the $ 0.640 resistance zone.
Cardano price is resistant
In the last few sessions, Cardano has recorded a fresh decrease from USD 0.680, such as Bitcoin and Ethereum. Ada has fallen below the levels of support of USD 0.650 and USD 0.640.
Low was created at USD 0.6040 and the price consolidates losses. There was a miniature traffic above USD 0.6120. The price was tested by 23.6% Recovery level of the last inheritance from $ 0.6481 to a low level of USD 0.6040.
Cardano Price is currently an item than USD 0.640 and a 100-hour basic movable average. On the other hand, the price may encounter resistance near the USD 0.6260 zone and 50% of the FIB withdrawal level of a recent decrease from $ 0.6481 to the highest level of USD 0.6040.
The first resistance is nearly 0.6350 USD. There is also a connecting bearing trend line that creates a resistance of 0.6350 USD on the chart of the hourly pair of ADA/USD. The next key resistance can be 0.6480 USD.
If it is exceeded to the resistance of USD 0.6480, the price may start a forceful rally. In the given case, the price may augment towards the region of USD 0.680. Any profits may require a transition towards 0.70 USD in the near future.
Another drop in ADA?
If the Cardano price does not augment above the level of resistance 0.6350 USD, it may start another decrease. Immediate support in the minus is close to USD 0.6040.
Another earnest support is close to 0.60 USD. A break break below 0.60 USD can open the door to the 0.580 USD test. Another earnest support is located near the USD 0.5550, 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 0.6040 and USD 0.580.
Main resistance levels – USD 0.6350 and USD 0.6480.
