$ADA Pulls Back — Are Bears Regaining Control?

Cardano has slipped into a bearish phase after failing to hold above $1.020, now trading below both $0.90 and the 100-hour SMA. A clear downtrend is forming, with immediate risks pointing toward the $0.80 zone.

🔻 Recent Price Action:

- ADA broke below $0.950 and $0.920 supports.

- Price dipped under $0.90, crossing beneath the 50% Fib retracement of the $0.7650 → $1.020 rally.

- On the hourly chart, a descending trend line is forming with resistance near $0.940.

📈 Upside Scenarios:

- Initial resistance: $0.8920.

- Break above $0.940 (trendline + barrier) could open the door to $1.00, with potential extension toward $1.050.

📉 Downside Scenarios:

- Immediate support: $0.840.

- Stronger support: $0.8250 (76.4% Fib).

- A decisive drop below $0.8250–$0.80 could test $0.780, where bulls may try to defend.

📊 Technical Indicators:

- MACD (Hourly): Bearish momentum building.

- RSI (Hourly): Below 50, signaling selling pressure.

Key Levels to Watch:

- Support: $0.840, $0.8250, $0.780

- Resistance: $0.8920, $0.940, $1.00

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