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Cardano price failed to climb above the $0.0950 resistance and declined recently. Bitcoin price declined heavily in the past two days, sparking bearish moves in ADA below $0.0850.

  • Cardano price is under pressure and it recently traded below the $0.0850 support area.
  • There was a break below a key ascending channel with support at $0.0850 on the 4-hours chart.
  • ADA could tumble if there is a downside break below the $0.0750 support area.

Cardano ADA Price

Cardano Price Analysis (ADA to USD)

After struggling to clear the $0.0980 resistance, cardano price started a major decline. ADA price broke a few important supports near $0.0920 and $0.0900 to enter a bearish zone.

Cardano Price Analysis (ADA to USD)

Click to Enlarge Chart

Looking at the 4-hours chart of ADA/USD, the pair even settled below the $0.0900 support area and the 25 simple moving average (4-hours). There was also a break below a major bullish trend line at $0.0940 on the same chart.

Later, the price retested the same trend line, which acted as a resistance near $0.0940. As a result, the price extended losses and traded below a key ascending channel with support at $0.0850 on the same chart.

The price even traded below the $0.0800 support and formed a new monthly low near $0.0744. It is currently correcting higher towards $0.0800. If there is an upside break above $0.0800, the price could test the $0.0835 resistance.


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The 50% Fib retracement level of the recent decline from the $0.0925 high to $0.0744 low is near the $0.0835 level to act as resistance. However, the main resistance is near $0.0850 and the 25 simple moving average (4-hours).

Finally, the 61.8% Fib retracement level of the recent decline from the $0.0925 high to $0.0744 low is near $0.0856, above which cardano price could start a decent recovery.

If there is no upside break above $0.0800 or $0.0835, ADA price could extend losses. An immediate support is near the $0.0750 and $0.0745 levels. If cardano price slides below the recent low at $0.0744, there could be a sharp drop towards or below $0.0700 in the near term.

The market data is provided by TradingView, Binance.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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