Cardano (ADA) Downtrend Deepens—Is a Rebound Possible?

Cardano (ADA) Downtrend Deepens—Is a Rebound Possible?

Cardano price started a recovery wave above the $0.680 zone but failed. ADA is consolidating near $0.650 and remains at risk of more losses.


  • ADA price failed to recover above the $0.70 resistance zone.

  • The price is trading below $0.680 and the 100-hourly simple moving average.

  • There was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair (data source from Kraken).

  • The pair could start another increase if it clears the $0.70 resistance zone.

  • Cardano Price Dips Again


    In the past few days, Cardano saw a recovery wave from the $0.6350 zone, like Bitcoin and Ethereum. ADA was able to climb above the $0.680 and $0.6880 resistance levels.


    However, the bears were active above the $0.70 zone. A high was formed at $0.7090 and the price corrected most gains. There ..

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