Cardano Price began a new decrease in the $ 0.680 area. ADA is consolidating about $ 0.620 and is still at risk of more losses.
- Ada Price began a recovery wave of the $ 0.5850 zone.
- The price is quoted below $ 0.640 and the simple mobile average of 100 hours.
- There is a bold connection line of connection that is formed with resistance at $ 0.6350 in the ADA/USD torque graph (Kraken data source).
- The torque could begin another increase if the $ 0.640 resistance zone erases.
Cardano Price faces resistance
In the last sessions, Cardano saw a new decrease in the level of $ 0.680, such as Bitcoin and Ethereum. ADA decreased below the support levels of $ 0.650 and $ 0.640.
A minimum was formed at $ 0.6040 and the price is now consolidating losses. There was a minor movement above the level of $ 0.6120. The price tested the FIB recoil level of 23.6% of the recent decrease in the swing of $ 0.6481 to the maximum up to the minimum of $ 0.6040.
Cardano Price is now quoted below $ 0.640 and the simple mobile average of 100 hours. On the upward side, the price could face resistance near the $ 0.6260 area and the 50% FIB setback level of the recent decrease in $ 0.6481 to the minimum of $ 0.6040.
The first resistance is about $ 0.6350. There is also a bold connection line of connection that is formed with resistance at $ 0.6350 in the ADA/USD torque graph. The next key resistance could be $ 0.6480.
If there is a closure above the resistance of $ 0.6480, the price could start a strong rally. In the established case, the price could increase to the region of $ 0.680. More profits may require a movement towards $ 0.70 in the short term.
Another fall in Ada?
If the Cardano price does not rise above the resistance level of $ 0.6350, another decrease could begin. The immediate support at the disadvantage is close to the level of $ 0.6040.
The following main support is close to the level of $ 0.60. A downward break below the level of $ 0.60 could open the doors for a $ 0.580 test. The following main support is close to the level of $ 0.5550 where bulls could arise.
Technical indicators
Macd per hour: The MacD for Ada/USD is gaining impulse in the bearish zone.
RSI per hour (relative force index): The RSI for ADA/USD is now below the level of 50.
Important support levels: $ 0.6040 and $ 0.580.
Main levels of resistance: $ 0.6350 and $ 0.6480.
