Cardano Price Recovery Faces Resistance Near $0.6850 Level

Cardano Price Analysis

Cardano (ADA) price is recovering from the $0.6420 zone.
Current trading is below $0.680 and the 100-hourly simple moving average.
Resistance is at $0.6850, which could hinder further gains.
A break above $0.6850 may lead to an increase towards $0.7090 and potentially $0.730.

Recently, Cardano experienced a decline from $0.730, dropping below key support levels of $0.70 and $0.680, with a low at $0.6426. A recovery above $0.6550 has occurred, including a break above a bearish trend line at $0.650.

Immediate resistance remains near $0.6850 and the 50% Fib retracement level of the recent decline. If unable to surpass this resistance, the price may decline, with immediate support at $0.6630 and major support at $0.6500. A drop below $0.6500 could test $0.6320 and potentially $0.6175.

Technical indicators show the MACD losing bullish momentum while the RSI is above 50.