So, Cardano (ADA) decided to take a little vacation from the highs and is now lounging around the $0.650 mark. How delightful! 😒
- ADA tried to break free from the $0.70 resistance zone but, surprise surprise, it didn’t quite make it.
- Currently, it’s trading below $0.680, which is just a fancy way of saying it’s not winning any races.
- Oh, and it broke below a bullish trend line at $0.6720. Because why not add a little drama to the mix?
- If it can somehow muster the strength to clear the $0.70 resistance, we might see a glimmer of hope. Or not. 🤷♀️
Cardano Price Takes a Dive Again
In a plot twist worthy of a soap opera, Cardano had a brief recovery from the $0.6350 zone, trying to keep up with Bitcoin and Ethereum. It even flirted with the $0.680 and $0.6880 resistance levels. How cute!
But then, the bears showed up, and just like that, a high of $0.7090 turned into a sad little correction. Now it’s below $0.650, and the trend line is crying in the corner.
With a low at $0.6356, it’s now consolidating losses like a pro. It’s hanging out near the 23.6% Fib retracement level, which sounds fancy but really just means it’s lost a lot of ground.
On the bright side (if you squint), it might face some resistance around $0.6720 or the 50% Fib retracement level. The first hurdle is at $0.6950, and the next one is at $0.700. Good luck with that! 🙄
If it somehow manages to close above $0.70, we might see a rally. Or it could just be wishful thinking. If it does rally, it could aim for $0.7420. But let’s not get ahead of ourselves; we all know how this story goes.
Another Drop in ADA? Oh, Joy!
If Cardano can’t muster the energy to climb above $0.6720, we might be in for another drop. Immediate support is at $0.6420, which is just a hop, skip, and a jump away from disaster.
The next major support is at $0.6350. If it breaks that, we’re looking at a potential test of $0.620. And if it really wants to throw a pity party, it could even hit the $0.60 mark, where the bulls might finally decide to show up. 🎉
Technical Indicators
Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Shocking, I know.
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below 50. It’s like a bad report card.
Major Support Levels – $0.6420 and $0.6350. Good luck!
Major Resistance Levels – $0.6720 and $0.7000. Because who doesn’t love a challenge?
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2025-04-03 08:12