Cardano Price has begun a new reduction in the $ 0.680 zone. The ADA is integrated near $ 0.620 and is risk of more losses.
- ADA PRICE has begun recovery from the $ 0.5850 zone.
- The price is traded more than $ 0.640 and a simple average moving average of 100 hours.
- There is a connecting bare lysch trend line formed by a $ 0.6350 resistance in the hourly chart of the ADA/USD pair (data source of KRAKEN).
- Removing the $ 0.640 resistance zone can start another increase.
Cardano prices face resistance
In the last few sessions, Cardano has declined new at $ 0.680, such as Bitcoin and Ethereum. The ADA was lower than the support level of $ 0.650 and $ 0.640.
The minimum is formed at $ 0.6040 and the price is now integrated. There was a minor movement of more than $ 0.6120. This price has recently tested after a 23.6%FIB, which has recently decreased from $ 0.6040 to $ 0.6481.
Cardano Price is currently being traded more than $ 0.640 and a simple moving average of 100 hours. Conversely, the price can be faced at a 50%FIB return level, which has recently decreased at $ 0.6040 at the $ 0.6481 swing near the $ 0.6260 zone.
The first resistance is close to $ 0.6350. There is also a connecting bearish trend line that is formed of a $ 0.6350 resistance in the time chart of the ADA/USD pair. The next key resistance can be $ 0.6480.
If you are more than $ 0.6480, you can start a rally with a strong price. If specified, the price can rise to $ 0.680. No more profits can be required to move to $ 0.70 in the short term.
Another drop in ADA?
Another reduction may begin if the price of Cardano does not rise above $ 0.6350. Immediate support for the shortcomings is close to $ 0.6040.
The next major support is close to $ 0.60. The disadvantage of less than $ 0.60 is to open the door for testing $ 0.580. The next main support is nearly $ 0.5550 for bulls.
Technical indicator
MACD -ADA/USD MACD is gaining momentum from the weak zone.
RSI (relative strength index) by time -ADA/USD’s RSI is now less than 50.
Major support levels -$ 0.6040 and $ 0.580.
Main resistance level -$ 0.6350 and $ 0.6480.