Cardano Price started a downward correction from the $ 1,020 area. Ada now shows some bearish signs and could decrease towards $ 0.80.
- The Ada price began a lower correction lower than the support area of $ 0.920.
- The price is exchanged below $ 0.90 and the simple 100 -hour mobile average.
- There is a reliable trend line that is resisted with $ 0.940 on the time graphic of the Ada/USD couple (source of data from Kraken).
- The couple could extend the losses if it exchanges below the $ 0.80 region.
Cardano Price Trims earnings
After a constant increase, Cardano faced sellers above the level of $ 1.00 have started a new decline, such as Bitcoin and Ethereum. Ada has exchanged under the support levels of $ 0.950 and $ 0.920.
There was a move below the support $ 0.90. The bears pushed the price lower than the FIB retracement level of 50% of the move upwards from the swing of $ 0.7650 per low up to the maximum of $ 1,020. There is also a reliable trend line that is formed with $ 0.940 on the time graphic of the Ada/USD couple.
Cardano’s price is now exchanged below $ 0.90 and the simple 100 -hour mobile average. On the positive side, the price could face the resistance near the $ 0.880 area.
The first resistance is close to $ 0.8920. The next resistance to the key could be $ 0.940. If there is a closure above the resistance of $ 0.940 and the trend line, the price could start a strong event. In the declared case, the price could rise to the $ 1.00 region. Other earnings may require a short -term $ 1,050 move.
Other losses in Ada?
If Cardano’s price cannot go up above the level of resistance of $ 0.940, another drop may start. The immediate support on the reverse of the medal is close to the level of $ 0.840.
The next main support is close to the level of $ 0.8250 and the FIB retracement level of 76.4% of the move upwards from the swing of $ 0.7650 to a maximum of $ 1,020. A downward break below the level of $ 0.8250 could open the doors for a $ 0.80 test. The next important support is close to the $ 0.780 level in which the bulls may emerge.
Technical indicators
MACD TIME – The MacD for Ada/USD is gaining momentum in the bearish area.
TIME TIME (relative resistance index) – The RSI for Ada/USD is now below level 50.
Main support levels – $ 0.8400 and $ 0.8250.
Main resistance levels – $ 0.9200 and $ 0.9400.