- ADA price corrected lower recently below the $0.0900 and $0.0850 supports against the US Dollar.
- The price traded close to the $0.0760 level and recently corrected above $0.0800.
- There is a significant bearish trend line in place with resistance at $0.0840 on the 4-hours chart (data feed via Kraken).
- The price must break the $0.0840 and $0.0850 resistance levels to start a strong uptrend.
Cardano price is currently trading below key resistances against the US Dollar and bitcoin. ADA is likely to accelerate higher if it clears the $0.0850 resistance zone.
Cardano Price Analysis
After trading towards the $0.1020 level, cardano price started a major downside correction against the US Dollar. The ADA/USD pair declined below the $0.0950 and $0.0920 support levels. Later, a swing high was formed at $0.0926 and the price declined sharply below $0.0850. There was a close below the $0.0850 level and the 55 simple moving average (4-hours). The price even broke the $0.0800 support and…
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