Cardano Price Declines Below $0.850, Faces Resistance at $0.820
Cardano (ADA) Price Analysis
- Cardano's price declined below $0.850 and $0.8320.
- Current trading is under $0.820 and the 100-hourly simple moving average.
- A bearish trend line has formed with resistance at $0.820.
- The recent low was recorded at $0.8003, indicating consolidation of losses.
- Resistance levels are seen near $0.820 and $0.840; a break above $0.840 may lead to a rally towards $0.8620.
- If unable to breach $0.840, ADA could decline further, with immediate support at $0.80 and major support at $0.780.
- Technical indicators show increasing bearish momentum in MACD and an RSI below 50.
