ADA price started a strong decline from the .24 resistance against the US Dollar. The price is now trading below .10 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near .00 on the 4-hours chart (data feed via Bitfinex). The price could continue to move down if there is a break below the %excerpt%.920 support. Cardano price is declining below .00 against the US Dollar, similar to bitcoin. ADA price could accelerate further lower if it stays below .00. Cardano Price Analysis This week, cardano price saw a fresh decline from the .25 resistance zone against the US Dollar. The ADA/USD pair traded below the .12 and .10 support levels to move into a bearish zone. The price declined below the 50% Fib retracement
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- ADA price started a strong decline from the $1.24 resistance against the US Dollar.
- The price is now trading below $1.10 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $1.00 on the 4-hours chart (data feed via Bitfinex).
- The price could continue to move down if there is a break below the $0.920 support.
Cardano price is declining below $1.00 against the US Dollar, similar to bitcoin. ADA price could accelerate further lower if it stays below $1.00.
Cardano Price Analysis
This week, cardano price saw a fresh decline from the $1.25 resistance zone against the US Dollar. The ADA/USD pair traded below the $1.12 and $1.10 support levels to move into a bearish zone.
The price declined below the 50% Fib retracement level of the upward move from the $0.761 swing low to $1.245 high. It is now trading below $1.10 and the 55 simple moving average (4-hours). On the downside, an immediate support is near the $0.920 level.
The next major support is near the $0.886 level. It is near the 76.4% Fib retracement level of the upward move from the $0.761 swing low to $1.245 high.
If there are additional losses, the price may perhaps decline towards the $0.780 support level. A break below $0.780 could push the price towards the $0.70 level. On the upside, an immediate resistance is near the $0.95 level.
The first key resistance might be near the $1.00 level. There is also a key bearish trend line forming with resistance near $1.00 on the 4-hours chart. A clear upside break above the $1.00 level might send the price towards the $1.05 resistance.
The next key resistance might be near the $1.05 level. Any more gains could start a steady increase towards the $1.12 level in the near term. An intermediate resistance might be near $1.10 and the 55 simple moving average (4-hours).
Cardano (ADA) Price
The chart indicates that ADA price is now trading below $1.10 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if there is a break below the $0.920 support.
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 now well below the 50 level.
Key Support Levels – $0.920 and $0.886.
Key Resistance Levels – $1.00 and $1.05.