Cardano Price has begun lower than the $ 0.75 area. The ADA corrects some losses and can face resistance at $ 0.750.
- ADA PRICE has begun recovery from the $ 0.650 zone.
- The price is more than $ 0.750 and a simple moving average of 100 hours.
- In the hourly chart of the ADA/USD pair (data source of KRAKEN), a short -term weaker trend line is formed with a resistance of $ 0.720.
- The pair can start another increase by removing the $ 0.750 resistance zone.
Cardano Price is higher
Over the last few days, Cardano has seen a $ 0.80 weak waves, such as Bitcoin and Ethereum. ADA has decreased below the level of support of $ 0.750 and $ 0.70.
Finally, I tested the $ 0.650 zone. The minimum is formed for $ 0.6495 and the price has recently begun recovery. The price rose to $ 0.680 and $ 0.70. The price was $ 0.8169 to $ 0.6495 to the lowest level of $ 0.6495 and tested the level after 50% FIB.
In the hourly chart of the ADA/USD pair, a short -term weaker trend line has been formed with a $ 0.720 resistance. Cardano Price is currently being traded more than $ 0.80 and 100 hours simple moving average.
Conversely, the price can be faced with a 61.8% FIB reversal level of the resistance near the $ 0.750 area and from $ 0.8169 to $ 0.6495. The first resistance is close to $ 0.7750. The next key resistance can be $ 0.80.
If more than $ 0.80 resistance, the price can start a strong rally. If specified, the price can rise to $ 0.950. 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 $ 0.750. Immediate support for the shortcomings is close to $ 0.7150.
The next main support is nearly $ 0.6880. The disadvantage of less than $ 0.6880 is to open the door for a $ 0.650 test. The next main support is nearly $ 0.6320 for bulls.
Technical indicator
MACD -ADA/USD MACD is losing its driving force in the strong zone.
RSI (relative strength index) by time -ADA/USD’s RSI is now less than 50.
Major support levels -$ 0.7150 and $ 0.6880.
Main resistance level -$ 0.7500 and $ 0.7750.