The current price of Cardano is about $0.849 after a significant drop of about 8% over the last 24 hours. The market is experiencing noticeable volatility today, and trading volume is still high, reflecting that investor interest remains strong despite the decline
Technical indicators:
The Relative Strength Index (RSI) is about 63.46, indicating that the currency is in a neutral to bullish zone without any sign of overbought or oversold conditions
MACD shows a positive crossover on the daily chart indicating the likelihood of continuing upward momentum
The 50-day moving average (MA50) is about $0.77, indicating strong support in the medium term. The 200-day moving average (MA200) is about $0.80, indicating long-term support
Support and resistance levels:
Key support at $0.80 – $0.82, any drop below these levels indicates a stronger decline
Current resistance at $0.9 and breaking above it may open the door for a new upward wave
In summary, Cardano today is in a correction phase after a drop of about 8%, and any breakout of important resistance or support will determine the direction in the coming days
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