Cardano Price began a new drop compared to the $ 0.680 zone. ADA is consolidated nearly $ 0.620 and remains at risk of more losses.
- Ada Price started a recovery wave from the $ 0.5850 area.
- The price is negotiated below $ 0.640 and the mobile average at 100 hours.
- There is a lower connection line of connection forming with resistance at $ 0.6350 on the time graph of the ADA / USD pair (Kraken data source).
- The pair could start another increase if it erases the resistance zone by $ 0.640.
Cardano Price faces resistance
During the last sessions, Cardano experienced a new drop compared to $ 0.680, such as Bitcoin and Ethereum. ADA decreased below support levels of $ 0.650 and $ 0.640.
A hollow was formed at $ 0.6040 and the price now consolidates losses. There was a minor movement above the level of $ 0.6120. The price has tested the FIB trace level of 23.6% of the recent drop compared to the swing of $ 0.6481 at $ 0.6040.
Cardano Price is now negotiated below $ 0.640 and the mobile average at 100 hours. Right up, the price could cope with resistance near the $ 0.6260 area and the FIB trace level to 50% of the recent drop compared to the swing of $ 0.6481 at $ 0.6040.
The first resistance is almost $ 0,6350. There is also a lower connection line of connection that form with resistance at $ 0.6350 on the time graph of the ADA / USD pair. The next keys could be $ 0.6480.
If there is a closure above the resistance of $ 0.6480, the price could start a solid rally. In the indicated case, the price could increase to the region by $ 0.680. Other gains may require an evolution to $ 0.70 in the short term.
Another drop to Ada?
If the price of Cardano fails to climb above the level of resistance of 0.6350, it could start another drop. Immediate downward support is close to the level of $ 0.6040.
The next major support is close to the level of $ 0.60. A break down below $ 0.60 could open the doors for a $ 0.580 test. The next major support is close to the level of $ 0.5550 where the bulls could emerge.
Technical indicators
MacD Schedule – The MacD for ADA / USD is gaining momentum in the lower area.
Hourly RSI (Relative force index) – The RSI for ADA / USD is now lower than level 50.
Major support levels – $ 0.6040 and $ 0.580.
Major resistance levels – $ 0.6350 and $ 0.6480.
