ADA price started a steady decline from the %excerpt%.90 resistance against the US Dollar. The price is now trading below %excerpt%.80 and the 55 simple moving average (4-hours). There is a crucial bearish trend line forming with resistance near %excerpt%.835 on the 4-hours chart (data feed via Bitfinex). The price could continue to move down if it fails to recover above the %excerpt%.840 resistance zone. Cardano price is declining below %excerpt%.80 against the US Dollar, similar to bitcoin. ADA price could start a steady increase if it clears %excerpt%.84 and %excerpt%.85. Cardano Price Analysis This week, cardano price saw a fresh decline from the %excerpt%.90 resistance zone against the US Dollar. The ADA/USD pair traded below the %excerpt%.85 and %excerpt%.82 support levels to move into a bearish zone. The price even settled below
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- ADA price started a steady decline from the $0.90 resistance against the US Dollar.
- The price is now trading below $0.80 and the 55 simple moving average (4-hours).
- There is a crucial bearish trend line forming with resistance near $0.835 on the 4-hours chart (data feed via Bitfinex).
- The price could continue to move down if it fails to recover above the $0.840 resistance zone.
Cardano price is declining below $0.80 against the US Dollar, similar to bitcoin. ADA price could start a steady increase if it clears $0.84 and $0.85.
Cardano Price Analysis
This week, cardano price saw a fresh decline from the $0.90 resistance zone against the US Dollar. The ADA/USD pair traded below the $0.85 and $0.82 support levels to move into a bearish zone.
The price even settled below $0.80 and the 55 simple moving average (4-hours). It even spiked below the $0.750 level and traded as low as 0.7357. The price is now correcting losses and trading above the $0.750 level. There was a move above the 23.6% Fib retracement level of the recent decline from the $0.904 swing high to $0.735 low.
On the upside, an immediate resistance is near the $0.820 level and the 55 simple moving average (4-hours). There is also a crucial bearish trend line forming with resistance near $0.835 on the 4-hours chart.
The trend line is near the 50% Fib retracement level of the recent decline from the $0.904 swing high to $0.735 low. The next key resistance might be near the $0.840 level. A clear upside break above the $0.840 level might send the price towards the $0.90 resistance.
The next key resistance might be near the $1.00 level. Any more gains could start a steady increase towards the $1.05 level in the near term.
On the downside, an immediate support is near the $0.762 level. The next major support is near the $0.735 level. If there are additional losses, the price may perhaps decline towards the $0.70 support level. A break below $0.70 could push the price towards the $0.65 level.
Cardano (ADA) Price
The chart indicates that ADA price is now trading below $0.80 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to recover above the $0.840 resistance zone.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is slowly gaining pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now above the 50 level.
Key Support Levels – $0.762 and $0.735.
Key Resistance Levels – $0.820 and $0.840.