Price Analysis for Cardano: How is ADA Doing Against the USD? 


The price of ADA failed to cross the resistance level of $0.2800 against the USD. There was a bearish break at the $0.2650 support level in an hourly chart. The pair may decline further and reach the $0.2300 and $0.2200 significant support level. The price has fallen against the USD and Bitcoin and may go below the $0.2200 level.

Cardano Price Analysis

The price didn’t have an upside break above the resistance levels of $0.2800 and $0.2820 against the USD. The price moved lower than the $0.2700 and $0.2600 support levels. This was followed by a break below the 61.8% Fib level from $0.2840 high to $0.2330 low. This paved a way for more declines and finally kept the price below $0.2600.

 

The most significant move on the hourly chart was the break below a bullish trendline with a $0.2650 support. Currently, the pair is trading below the 100 hour SMA and $0.2500 support level. The coin is consolidating its loses trading as low as $0.2383. On the uptrend, there was an initial resistance close to the Fib retracement level from the $0.2763 high to the low of $0.2383. The most significant hurdle is the 100 hour SMA and the $0.2600 level.

According to the charts, the 50% Fib level from the $0.2763 to $0.2383 wave is going to serve as a resistance near $0.2580. If a break should occur below $0.2380, the price may be pushed towards the support levels of $0.2300 and $0.2200 soon.

There is currently a bearish wave between ADA and USD on the hourly MACD. The hourly RSI is oversold and the major support levels is $0.2200. $0.2600 is the major resistance level.

 

 

 

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