NewsBTC
12 March 2025
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Cardano Price Declines Below $0.75, Faces Resistance Near $0.750

Cardano (ADA) is experiencing a price correction after declining below $0.75.

  • ADA began recovering from the $0.650 zone.
  • Current trading below $0.750 and the 100-hourly simple moving average.
  • A bearish trend line has formed with resistance at $0.720 on the hourly chart.
  • Potential for another increase if the $0.750 resistance is cleared.

Recent Price Movements

Cardano faced declines below $0.80, similar to trends seen in Bitcoin and Ethereum. The price tested the $0.650 zone, forming a low at $0.6495 before starting a recovery.

The price has risen above $0.680 and $0.70, reaching the 50% Fibonacci retracement level of the downward move from $0.8169 to $0.6495.

Resistance levels are identified at $0.750 and the 61.8% Fibonacci retracement level. Key resistance levels are at $0.7750 and potentially $0.80.

Cardano Price

A close above $0.80 could lead to a rally towards $0.950, with further gains targeting $1.00.

Potential Further Decline

If ADA does not surpass the $0.750 resistance, it may decline further. Immediate support is at $0.7150, followed by $0.6880. A break below $0.6880 could test the $0.650 level, with significant support at $0.6320.

Technical Indicators:

  • Hourly MACD shows losing momentum in the bullish zone.
  • Hourly RSI is below 50.
  • Major support levels are $0.7150 and $0.6880.
  • Major resistance levels are $0.7500 and $0.7750.