Cardano price started a fresh decline below the $0.720 zone. ADA is correcting some losses and might face resistance near the $0.7750 level.
ADA price started a recovery wave from the $0.650 zone.
The price is trading below $0.720 and the 100-hourly simple moving average.
There is a connecting bearish trend line forming with resistance at $0.7050 on the hourly chart of the ADA/USD pair (data source from Kraken).
The pair could start another increase if it clears the $0.720 resistance zone.
Cardano Price Faces Hurdles
In the past few days, Cardano saw a bearish wave below the $0.7750 level, like Bitcoin and Ethereum. ADA declined below the $0.750 and $0.720 support levels.
Finally, it tested the $0.650 zone. A low was formed at $0.6495 and the price recently started a recovery wave. The price climbed above the $0.6950 and $0.70 level. The price even spiked above the 50% Fib retracement level of the downward move from the $0.8170 swing high to the $0.6495 low.
Cardano pric
We współpracy z: https://www.newsbtc.com/analysis/ada/cardano-ada-struggle-0-7750/
