Cardano price started a fresh drop below the zone 0.5750 USD. Ada is now consolidating and may have difficulty maintaining the support of 0.550 USD.
- The price of ADA began a decrease below 0.580 USD and USD 0.5,750.
- The price is trade below 0.570 USD and 100-hour straight movable average.
- There is a key line of bears trend formed with a resistance of USD 0.570 on the chart of the hourly pair of ADA/USD (data source from Kraken).
- The couple could start a fresh decrease if it falls below the support zone 0.550 USD.
Cardano price will fall again
In the last few sessions, Cardano has recorded a fresh drop below 0.580 USD, unlike Bitcoin and Ethereum. Ada even dropped below USD 0.5,750 to enter the bear zone.
Bears even exceeded a price below 23.6% of the level of withdrawal of FIB motion from $ 0.5102 up to USD 0.5,938. The price increased even below $ 0.5520. There is also a key line of bears trend formed with a resistance of USD 0.570 on the chart of the hourly pair of ADA/USD.
Cardano Price is currently an item than USD 0.570 and a 100-hour straightforward movable average. On the other hand, the price may encounter resistance near the USD 0.570 zone. The first resistance is nearly 0.5850 USD.
The next key resistance can be 0.5920 USD. If it exceeds USD 0.5920, the price can start a sturdy rally. In the given case, the price may enhance towards the region of 0.620 USD. Extremely profits may require a transition in the direction of USD 0.6350 in the near future.
Another drop in ADA?
If the Cardano price does not enhance above the resistance level of USD 0.5,850, it may start another decrease. Immediate support on the water is close to USD 0.5520 and 50% of the upward relief level of movement from USD 0.5102 to the highest level of USD 0.5938.
Another grave support is close to USD 0.530. The inheritance break below USD 0.530 can open the door to the 0.5120 USD test. Another grave support is located near the 0.50 USD level, 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 0.5520 and USD 0.5300.
Main resistance levels – USD 0.5,850 and USD 0.6000.
