ADA declined below the $0.750 and $0.70 support levels.
Finally, it tested the $0.650 zone. A low was formed at $0.6495 and the price recently started a recovery wave. The price climbed above the $0.680 and $0.70 level. The price tested the 50% Fib retracement level of the downward move from the $0.8169 swing high to the $0.6495 low.
There was a short-term bearish trend line forming with resistance at $0.720 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.80 and the 100-hourly simple moving average.
On the upside, the price might face resistance near the $0.750 zone and the 61.8% Fib retracement level of the downward move from the $0.8169 swing high to the $0.6495 low. The first resistance is near $0.7750. The next key resistance might be $0.80.
Finally, it tested the $0.650 zone. A low was formed at $0.6495 and the price recently started a recovery wave. The price climbed above the $0.680 and $0.70 level. The price tested the 50% Fib retracement level of the downward move from the $0.8169 swing high to the $0.6495 low.
There was a short-term bearish trend line forming with resistance at $0.720 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.80 and the 100-hourly simple moving average.
On the upside, the price might face resistance near the $0.750 zone and the 61.8% Fib retracement level of the downward move from the $0.8169 swing high to the $0.6495 low. The first resistance is near $0.7750. The next key resistance might be $0.80.