Cardano Price started a downward correction from the zone of $ 1,020. ADA now shows some bear signs and could drop to 0.80 US dollars.
- The ADA price started a downward correction below the support zone of $ 0.920.
- The price is traded below $ 0.90 and the 100-hour simple moving average.
- On the hourly diagram of the ADA/USD pair (data source of octopuses) there is an important bear -in trend line with a resistance of $ 0.940.
- The couple could extend losses if it is traded under the region of USD 0.80.
Cardano Price earnings increase
After a steady increase, Cardano started a new decline like Bitcoin and Ethereum with sellers above the level of USD 1.00. ADA acted among the support levels of $ 0.950 and $ 0.920.
There was a move with the support of $ 0.90. The bear pushed the price under the 50% Fib retreat level of the upward train of 0.7650 USD swing deep to $ 1.020. There is also an important Bear trend line that forms with a resistance of 0.940 US dollars on the timetable of the ADA/USD couple.
The Cardano price is now trading below $ 0.90 and the 100-hour simple, sliding average. On the other hand, the price near the zone of 0.880 US dollars can be exposed to resistance.
The first resistance is $ 0.8920. The next key resistance could be 0.940 US dollars. If there is a closure of 0.940 $ 0.940 and the trend line is over the price of $ 0.940, the price can start a strong rally. In the specified case, the price in the direction of the region could increase $ 1.00. Further profits could require a change towards 1.050 US dollars at short notice.
More losses in ADA?
If the Cardano price does not increase over the resistance level of $ 0.940, this could begin another decline. The immediate support on the disadvantage is near the level of $ 0.840.
The next main support is close to the level of $ 0.8250 and the 76.4% FIB retreat level of the upward treble of $ 0.7650 deep to the high of USD 1.020. A disadvantage below the level of USD 0.8250 could open the doors for a test of 0.80 US dollars. The next big support is near the level of $ 0.780 in which the bulls could occur.
Technical indicators
Hourly MacD – The MACD for ADA/USD gains dynamics in the bear's zone.
Every hour RSI (relative strength index) – the RSI for ADA/USD is now below the level of 50.
Main support levels – $ 0.8400 and 0.8250.
Main resistance level – $ 0.9200 and $ 0.9400.
