ADA price started a fresh decline from well above the %excerpt%.1000 support against the US Dollar.The price is now trading well below the %excerpt%.0920 support and the 55 simple moving average (4-hours).There is a key bearish trend line forming with resistance near %excerpt%.0960 on the 4-hours chart (data feed via Kraken).The price is likely to continue lower towards the %excerpt%.0850 support or %excerpt%.0832 in the near term.Cardano price is gaining bearish momentum below %excerpt%.0950 against the US Dollar, similar to bitcoin. ADA price is likely to decline further as long as it is below %excerpt%.0950.Cardano Price AnalysisCardano price failed to clear the %excerpt%.1000 resistance level and started a fresh decline against the US Dollar. The ADA/USD pair broke the main %excerpt%.0950 support level to move into a bearish zone.The decline
Topics:
Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
This could be interesting, too:
Bitcoin Schweiz News writes Die besten Bitcoin-Börsen für die Schweiz: Sortiert nach Trustpilot-Rating
Bitcoin Schweiz News writes Diese 3 Bitcoin-Börsen sind für Anfänger besonders geeignet
Chayanika Deka writes Optimism for Republican Win Drives .2 Billion in Weekly Inflows into BTC, ETH Products
Chayanika Deka writes Bitcoin Leads Investor Activity with 9M in Outflows; But Multi-Asset Products Shine
- ADA price started a fresh decline from well above the $0.1000 support against the US Dollar.
- The price is now trading well below the $0.0920 support and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $0.0960 on the 4-hours chart (data feed via Kraken).
- The price is likely to continue lower towards the $0.0850 support or $0.0832 in the near term.
Cardano price is gaining bearish momentum below $0.0950 against the US Dollar, similar to bitcoin. ADA price is likely to decline further as long as it is below $0.0950.
Cardano Price Analysis
Cardano price failed to clear the $0.1000 resistance level and started a fresh decline against the US Dollar. The ADA/USD pair broke the main $0.0950 support level to move into a bearish zone.
The decline gained pace below the $0.0920 support and the 55 simple moving average (4-hours). The price is now trading below the $0.0900 support and the last swing low at $0.0896. An initial support on the downside is seen near the $0.0872 level.
It is close to the 1.236 Fib extension level of the last upward move from the $0.0896 low to $0.1000 high. The next key support is near the $0.0850 level, below which the bears are likely to aim a test of the $0.0832 level.
The 1.618 Fib extension level of the last upward move from the $0.0896 low to $0.1000 high is near the $0.0832 level to act as a support. If cardano price breaks the $0.0832 support level, there is a risk of more downsides towards the $0.0820 level.
On the upside, the $0.0900 level is an initial resistance. The first key resistance is near the $0.0930 level. There is also a key bearish trend line forming with resistance near $0.0960 on the 4-hours chart.
An intermediate resistance is near the $0.0950 level. A successful close above the trend line, the 55 simple moving average (4-hours), and $0.0960 is needed for a fresh increase towards the $0.1000 and $0.1200 resistance levels.
Cardano (ADA) Price
The chart indicates that ADA price is gaining bearish momentum below $0.0920 and $0.0900. Overall, the price is likely to continue lower towards the $0.0850 support or $0.0832 in the near term.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is currently declining and it is well below the 40 level.
Key Support Levels – $0.0872 and $0.0832.
Key Resistance Levels – $0.0930 and $0.0960.