Cardano price stayed above the $0.0870 support area, but it struggled to gain momentum. Bitcoin price is currently consolidating, but it seems like ADA bulls are facing many hurdles on the way to $0.1000.

  • Cardano price is trading below the $0.0950, $0.0972 and $0.0984 resistance levels.
  • There is a major bullish trend line forming with support near $0.0888 on the 2-hours chart.
  • ADA could decline heavily if it continues to struggle near $0.0950 and $0.0972.

Cardano ADA Price

Read: Guide to eToro

Cardano Price Analysis (ADA to USD)

There were multiple failures noted near the $0.0950 resistance, resulting in bearish moves in cardano price. ADA price declined recently below $0.0900, but buyers were able to protect the main $0.0870 support area.

Cardano Price Analysis (ADA to USD)

Click to Enlarge Chart

Looking at the 2-hours chart of ADA/USD, the pair tested the $0.0878 level recently and settled below the 25 simple moving average (2-hours). The price is currently recovering above $0.0890, but there are many hurdles on the upside.

Today, the price failed to clear the $0.0920 resistance area, the 25 simple moving average (2-hours), and the 50% Fib retracement level of the recent drop from the $0.0952 high to $0.0878 low.


If there is an upside break above the $0.0920 level, the price could continue to rise towards the $0.0950 resistance area. An intermediate resistance is $0.0935 plus the 76.4% Fib retracement level of the recent drop from the $0.0952 high to $0.0878 low.

If the bulls succeed in clearing $0.0950, the next stop might be the $0.0972 resistance and the $0.0984 barrier. As long as cardano price is below these barriers, it won’t make it to $0.1000.

On the downside, an initial support is near the $0.0900 level. Moreover, there is a major bullish trend line forming with support near $0.0888 on the same chart.

Therefore, if cardano price fails to stay above the trend line and the $0.0870 support area, it could decline heavily. The next major support is near the $0.0800 and $0.0780 levels. Overall, there could be range moves in ADA/USD before it either rallies above $0.0972 or breaks the $0.0870 support.

The market data is provided by TradingView, Binance.

Buy Crypto    Trade Crypto
eToro Risk Warning: 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

Leave a reply

Your email address will not be published. Required fields are marked *