Cardano (ADA) Faces Renewed Selling Pressure

Cardano (ADA) Faces Renewed Selling Pressure—More Pain Ahead?

Feb 24, 2025 08:00 am Cryptocurrency 42

Cardano price started a fresh decline from the $0.820 zone. ADA is now consolidating losses and at risk of more losses below the $0.7350 level.

ADA price started a fresh decline below the $0.80 and $0.7650 levels.

The price is trading below $0.7750 and the 100-hourly simple moving average.

There is a connecting bearish trend line forming with resistance at $0.7620 on the hourly chart of the ADA/USD pair (data source from Kraken).

The pair could start another increase if it clears the $0.7750 resistance zone.

Cardano Price Climbs Above $0.750

After a decent increase, Cardano faced resistance near the $0.820 zone. ADA formed a short-term top and recently started a fresh decline, underperforming Bitcoin and Ethereum.

There was a move below the $0.80 and $0.7650 levels. The bears were able to push the price below $0.750. A low was formed at $0.7362 and ..

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