Cardano Price Declines Below $0.9550, Faces Resistance at $1.00
Cardano Price Analysis
- ADA price declined from the $1.0350 level to below $0.9550.
- Current trading price is around $0.950, near the 100-hourly simple moving average.
- A short-term bearish trend line was broken with resistance at $0.9560.
- Price recovery attempts are underway after a low of $0.8769.
- Resistance levels to watch are at $0.9550 and $1.00.
- Support levels include $0.9150 and $0.9000.
If Cardano's price closes above $1.00, it may initiate a rally towards $1.050 and potentially $1.120. Failure to surpass $0.9550 could lead to another decline, targeting support near $0.9320 and $0.880.
Technical indicators show the MACD gaining momentum in the bullish zone and RSI above 50.
