Cardano ADA Price Faces Resistance at $0.690 Amid Trading Surge
Geopolitical tensions and regulatory uncertainty affect cryptocurrency markets. Cardano (ADA) shows price volatility between $0.664 and $0.690 despite strong fundamentals, including over 110 million total transactions. Broader market concerns about inflation and monetary policy contribute to downward pressure on ADA.
Technical Analysis
- ADA-USD's 24-hour trading range was $0.026 (3.85%), consolidating between $0.664 and $0.690.
- Resistance met at $0.690 with high-volume rejection during the 01:00 hour.
- Support established at $0.665 with buying pressure noted at 10:00 and 12:00 hours.
- 4-hour moving average indicates slight bearish bias; current price testing mid-range at $0.672.
- Resistance zone around $0.676 had peak volume between 13:36-13:40.
- Pullback to $0.668 at 14:00 created new support, with prices rebounding above $0.671.