Cardano Price began a recovery wave higher than $ 0.680 but it failed. ADA works to unify approximately $ 0.650 and remain at risk of more losses.
- Ada Price failed to recover over the $ 0.70 resistance area.
- The price is traded less than $ 0.680 and the simple moving average is 100 hours.
- There was a lower break from the upcoming upcoming trend line at 0.6720 dollars on the ADA/USD (data source from Kraken).
- The husband can start another increase if he wipes the resistance area of $ 0.70.
Cardano price decreased again
In the past few days, Cardano has seen a recovery wave of $ 0.6350, such as Bitcoin and Ethereum. Ada managed to climb over the resistance levels $ 0.680 and $ 0.6880.
However, the bears were active over a $ 0.70 area. A height has been formed at $ 0.7090 and the price correction most of the gains. There was a step lower than $ 0.650. Moreover, there was a lower break than the upcoming upcoming trend line with support at $ 0.6720 on the ADA/USD pair.
A decrease has been formed at 0.6356 dollars, and the price is now unifying the losses near the REECTING level 23.6 % of the last decrease of the alternative of $ 0.7090 to $ 0.6356. Cardano PRICE is now trading less than $ 0.680 and a simple moving average 100 hours.
On the upper side, the price may face resistance near the $ 0.6720 area or the level of FIB re -declining by 50 % of the last decline of the alternative of $ 0.7090 to $ 0.6356. The first resistance is approaching $ 0.6950. The following key resistance may be $ 0.700.
If there is a closure over $ 0.70, the price may start in a strong gathering. In the mentioned case, the price may rise towards a $ 0.7420 area. Any other gains may require the move about $ 0.7650 in the short term.
Another drop in Ada?
If the price of Cardano fails to rise above the 0.6720 resistance level, another decrease may start. Immediate support on the negative side is near the level of $ 0.6420.
The next main support is near the level of $ 0.6350. The negative side break can open less than $ 0.6350 to test $ 0.620. The next main support is near the level of $ 0.60 where bulls may appear.
Technical indicators
Every MACD – MACD for Ada/USD loses momentum in the Habboudia area.
RSI Hour (Relative Power Index) – RSI for Ada/USD is now less than 50 level.
Main support levels – $ 0.6420 and $ 0.6350.
Main resistance levels – $ 0.6720 and $ 0.7,000.