Cardano Price Declines Below $1.050, Faces Resistance at $1.0250

Cardano (ADA) Price Update

• ADA price declined from the $1.150 zone, trading below $1.0550 and the 100-hourly moving average.
• A bearish trend line forms with resistance at $1.040 on the hourly chart.
• Immediate resistance is near $1.050; a breakout could lead to an increase towards $1.0880.
• If unable to rise above $1.050, ADA may decline further.
• Immediate support levels are at $0.980 and $0.9650, with potential declines towards $0.9200 and $0.8800.

ADA formed a low at $0.9615 but has since moved above $0.990. The price is facing resistance around the $1.0250 zone, near the 50% Fib retracement level of its recent decline.

Technical indicators show the MACD losing momentum in bearish territory, while the RSI is below 50.