Cardano Price has begun a new reduction of less than $ 0.9250. ADA is now struggling to modify losses and clean $ 0.80 resistance.
- ADA PRICE has begun a new reduction in the $ 0.9250 zone.
- The price is traded more than $ 0.850 and a simple average moving average of 100 hours.
- There is a major weakening line in the time chart of the ADA/USD pair (data source of KRAKEN), which is formed as a resistance of $ 0.8050.
- If the pair is traded below the $ 0.7650 support area, it can begin another reduction.
Cardano prices face resistance
Cardano struggled to increase the $ 0.950 level and began a new reduction, such as Bitcoin and Ethereum. The ADA has fallen below the level of support of $ 0.90 and $ 0.850.
There was a clear movement under the $ 0.60 support area. The minimum is formed for $ 0.5105 and the price has recently begun to rise. The price is cleared by $ 0.60 and $ 0.70 resistance. The bull pumped more than the level of price after 50% FIB from the $ 0.5105 low to $ 0.9828 swing high.
But bears are now active near $ 0.80. There is also a major weakening line that is formed of a $ 0.8050 resistance in the time chart of the ADA/USD pair.
Cardano Price is currently being traded more than $ 0.80 and 100 hours simple moving average. Conversely, the price can be faced at a 61.8% FIB reversal level in the downturn from the $ 0.80 zone and the $ 0.9828 swing high to $ 0.5105.
The first resistance is close to $ 0.820. The next key resistance can be $ 0.850. If more than $ 0.850 resistance, the price may start a strong rally. If specified, the price can rise to the $ 0.9250 area. You can no longer require profit to move to $ 1.00 in the short term.
Another reduction in ADA?
Another reduction may begin if the price of Cardano does not rise above $ 0.80. Immediate support for the shortcomings is close to $ 0.7650.
The next major support is close to $ 0.7230. The disadvantage of less than $ 0.7230 is to open the door for testing $ 0.6880. The next main support is nearly $ 0.6250 for bulls.
Technical indicator
MACD -ADA/USD MACD is losing its driving force in the strong zone.
RSI (relative strength index) by time -RSI of ADA/USD is now exceeding level 50.
Major support levels -$ 0.7650 and $ 0.7230.
Main resistance level -$ 0.8000 and $ 0.8200.