And so, the epic struggle of Cardano (ADA) continues 🤯. Like a bad cold, it just won’t go away, but also, it might just kill you 💀. The price has started a fresh decline below the $0.720 zone, because, why not? It’s not like it’s had a good run or anything 📉.
- ADA price started a recovery wave from the $0.650 zone, because it’s like that one friend who always bounces back from a bad hangover 🍻.
- The price is trading below $0.720 and the 100-hourly simple moving average, because, well, it’s just not having a good day 😔.
- There is a connecting bearish trend line forming with resistance at $0.7050 on the hourly chart of the ADA/USD pair, because, of course there is 📊.
- The pair could start another increase if it clears the $0.720 resistance zone, but let’s be real, it’s probably just going to fail again 🤦♂️.
Cardano Price Faces Hurdles (and Fails to Clear Them)
In the past few days, Cardano saw a bearish wave below the $0.7750 level, because it’s just following the crowd 🐑. ADA declined below the $0.750 and $0.720 support levels, because, why not? It’s not like it’s had a good run or anything 📉.
Finally, it tested the $0.650 zone, because, well, it’s just a glutton for punishment 🤯. A low was formed at $0.6495 and the price recently started a recovery wave, because, hey, maybe it’s not all bad 🌈.
Cardano price is now trading below $0.720 and the 100-hourly simple moving average, because, well, it’s just not having a good day 😔. There is also a connecting bearish trend line forming with resistance at $0.7050 on the hourly chart of the ADA/USD pair, because, of course there is 📊.
On the upside, the price might face resistance near the $0.7050 zone, because, well, it’s just not that easy 🚫. The first resistance is near $0.7520 or the 61.8% Fib retracement level of the downward move from the $0.8170 swing high to the $0.6495 low, because, math 🤓.
The next key resistance might be $0.7750, because, well, it’s just a nice round number 📈.
If there is a close above the $0.7750 resistance, the price could start a strong rally, but let’s not get too excited 🎉. In the stated case, the price could rise toward the $0.80 region, because, hey, maybe it’s not all bad 🌈.
Any more gains might call for a move toward $0.850 in the near term, but, let’s be real, it’s probably just going to fail again 🤦♂️.
Another Drop in ADA? (Spoiler Alert: Yes)
If Cardano’s price fails to climb above the $0.720 resistance level, it could start another decline, because, well, it’s just what it does 📉.
Immediate support on the downside is near the $0.6880 level, because, well, it’s just a nice round number 📊.
The next major support is near the $0.650 level, because, well, it’s just a familiar face 👋.
A downside break below the $0.650 level could open the doors for a test of $0.6350, because, well, it’s just a slippery slope 🚨.
The next major support is near the $0.620 level where the bulls might emerge, but let’s not get too excited 🐂.
Technical Indicators (for the masochists out there)
Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone, because, well, it’s just not having a good day 😔.
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2025-03-14 07:21