Cardano prices fell to $0.40 after failing to reach that level. ADA now trades below $0.3850. It could extend its losses in near-term.
- ADA prices started a decline again and were trading at below $0.3880.
- The 100-hour simple moving average and the price are both below $0.3850.
- On the hourly chart for the ADA/USD, there was a breakdown below a bullish trendline with support at $ 0.3845 (data). source Kraken is a good example.
- This pair may extend its losses to test the support level of $0.370.
Cardano Price Dips Again
Cardano tried to make a wave of recovery above the $0.3650 area in recent days. Bitcoin The following are some examples of how to get started: Ethereum. ADA however failed to overcome the resistance of $0.40. At $0.3967, a price high formed and a new downward trend began.
A move was made below the $0.3880 & $0.3865 levels. The price fell below the level that represents the 23.6% of Fib’s retracement from the low swing at $0.3620 up to the $0.3967 peak. Moreover, there was a breakdown below a major bullish line of support located at $0.3845 in the hourly charts for the ADA/USD.
The ADA trading price has fallen below the moving average of 100 hours and $0.3850. Price resistance could be found near $0.3850 if the price continues to rise.
The first resistance level is around $0.3880. First resistance is near $0.3880. next The key resistance may be $0.40. The price may start to rally if the resistance of $0.40 is closed above. If the case is stated, then the price may rise towards the region of $0.4150. If there are any more gains, the price could move towards $0.4250.
There are more downsides to ADA than you think
Cardano may continue its downward trend if the price does not rise above $0.3850. Support is found near $0.3795, or at the 50 percent Fib retracement of the move upwards from the swing low $0.3620 to the high $0.3967.
You can also find out more about the following: next The $0.370 support level is the main area of resistance. The $0.370 support level is the first major resistance. The next Major support lies near $0.3350.
Technical Indicators
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.
Major Support Levels – $0.3790, $0.370, and $0.350.
Major Resistance Levels – $0.3880 and $0.400.
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Source: www.newsbtc.com