๐งฑ ADA Hits a Wall โ Will Buyers Step In Before Itโs Too Late?
Cardano fell below $0.80 again. ADA is consolidating and may rebound over $0.780.
Below $0.80 and $0.780, ADA price fell again.
The price is above $0.750 and the 100-hour SMA.
ADA/USD broke above a bearish trend line with resistance at $0.750 on the hourly chart.
The pair might rise again if it breaks $0.7840 barrier.
Cardano Price May Recover
Cardano fell below $0.7550 in recent days, unlike Bitcoin and Ethereum. ADA fell below $0.740 before the bulls emerged.
After a low of $0.7287, the price is trying to rebound. Price broke $0.750 barrier. Price moved beyond the 23.6% Fib retracement level of the latest fall from $0.8380 swing high to $0.7287 low.
ADA/USD broke above a bearish trend line with resistance at $0.750 on the hourly chart. Cardano is above $0.740 and the 100-hour SMA.
The price may encounter resistance at $0.7680 on the upside. The 50% Fib retracement of the latest slide from the $0.8380 swing high to the $0.7287 low is approaching $0.7840, the first resistance. The next hurdle may be $0.80.
A closing above $0.80 barrier might spark a powerful surge. In this situation, the price may reach $0.820. More increases may lead to $0.8350 soon.
Another ADA Decline?
If Cardano fails to break $0.7680 barrier, it might fall again. Near $0.750 is immediate downside support.
Near $0.740 is the next important support. A drop below $0.740 might challenge $0.7260. The next significant support is $0.70, where bulls may appear.
Tech Indicators
Hourly ADA/USD MACD is rising in the positive zone.
Hourly RSI - ADA/USD's RSI is over 50.
Key Support Levels: $0.750, $0.740.
Major resistance levels: $0.78400, $0.8000.
