Cardano price began a fresh drop below the zone 0.75 USD. Ada corrects some losses and may encounter resistance near the level of USD 0.750.

• Ada Price began a recovery wave from the USD 0.650 zone.
• The price is trade below 0.750 USD and 100-hour straight movable average.
• There is a brief -term bear trend line that creates a resistance at USD 0.720 on the chart of the hourly pair of ADA/USD (data source from Kraken).
• The couple can start another boost if they cleanse the $ 0.750 resistance zone.

Cardano price rises higher

Over the past few days, Cardano has seen a bear wave below 0.80 USD, such as Bitcoin and Ethereum. ADA has fallen below the levels of support 0.750 USD and 0.70 USD.

Finally, he tested the USD 0.650 zone. Low was created at 0.6495 USD, and the price recently started the recovery wave. The price increased above USD 0.680 and USD 0.70. The price was tested by 50% of the FIB withdrawal level from $ 0.8169 to a low level of USD 0.6495.

The brief -term bear trend line was formed with a resistance of USD 0.720 on the chart of the hourly pair of ADA/USD. Cardano price is currently an item than 0.80 USD and 100-hour straight movable average.

On the other hand, the price may face the resistance near the USD 0.750 zone and the level of withdrawal of 61.8% FIB down from the height of a swing with a value of USD 0.8169 to a low level of 0.6495 USD. The first resistance is almost USD 0.7750. The next key resistance can be 0.80 USD.

If it is close to the resistance of 0.80 USD, the price may start a robust rally. In the given case, the price may boost towards the region of USD 0.950. Any profits may need to be moved in the direction of USD 1.00 in the near future.

Another decrease in Ada?

If the Cardano price does not boost above the resistance level of USD 0.750, it may start another decrease. Immediate support in the minus is close to USD 0.7150.

Another grave support is close to USD 0.6880. A break break below USD 0.6880 can open the door to the 0.650 USD test. Further grave support is located near the USD 0.6320, where bulls may appear.

Technical indicators

MACD – MacD for ADA/USD loses her rush in a stubborn zone.

RSI hours (relative strength indicator) – RSI for ADA/USD is now below level 50.

Main support levels – USD 0.7150 and USD 0.6880.

Main resistance levels – USD 0.7500 and USD 0.7750.