Cardano Price has begun to recover more than $ 0.680, but failed. The ADA integrates the nearly $ 0.650 and is risk of more losses.
- ADA Price has not recovered more than $ 0.70 resistance zone.
- The price is traded more than $ 0.680 and a simple moving average of 100 hours.
- In the hourly chart of the ADA/USD pair (KRAKEN’s data source), there was a break under the connection trend line with the support of $ 0.6720.
- The pair can start another increase by removing the $ 0.70 resistance zone.
Cardano Price is deep again
For the last few days, Cardano has recovered from the $ 0.6350 zone, such as Bitcoin and Ethereum. The ADA was able to climb more than $ 0.680 and $ 0.6880.
But the bear has been activated beyond $ 0.70. The best consists of $ 0.7090 and the price has been revised most of the profits. There was a movement below $ 0.650. In addition, there was a break under the strength of the connection with the support of $ 0.6720 in the time chart of the ADA/USD pair.
The minimum is formed at $ 0.6356, and the price is currently $ 0.6356 at the $ 0.7090 swing, and the lowest level of $ 0.6356 is the lowest level of FIB. Cardano Price is currently being traded more than $ 0.680 and a simple moving average of 100 hours.
Conversely, the price can be faced with a 50%FIB that has recently been reduced to a resistance near the $ 0.6720 zone or a $ 0.7090 swing in the $ 0.6356 lowest level. The first resistance is close to $ 0.6950. The next key resistance can be $ 0.700.
If the resistance is close to $ 0.70, the price can start a strong rally. If specified, the price can rise to $ 0.7420. No more profit can be required to move to $ 0.7650 in the short term.
Another drop in ADA?
Another decrease may begin if the price of Cardano does not increase higher than the $ 0.6720 resistance level. Immediate support for the shortcomings is close to $ 0.6420.
The next major support is close to $ 0.6350. The disadvantage of less than $ 0.6350 is to open the door for testing $ 0.620. The next main support is nearly $ 0.60 for bulls.
Technical indicator
MACD -ADA/USD MACD is losing its driving force in the weak zone.
RSI (relative strength index) by time -ADA/USD’s RSI is now less than 50.
Major support levels -$ 0.6420 and $ 0.6350.
Main resistance level -$ 0.6720 and $ 0.7000.