-Bitcoin news, price, information & analysis Cardano price is at risk of a downside break against the US Dollar and Bitcoin. ADA/USD may perhaps break the $0.2000 level to initiate further declines.
After a decent upside move, ADA price faced a strong resistance near the $0.2350 level against the US Dollar. The price formed a top around $0.2360 and started a downside correction.
It declined and moved below the $0.2200 and $0.2100 support levels. It almost tested the $0.2000 handle a low was formed at $0.2020.
Later, the price recovered, but upsides were capped by the $0.2200 resistance. Moreover, the 100 hourly simple moving average also prevented upsides above $0.2200.
A fresh downside wave was initiated and the price declined below the $0.2100 level. There was also a break below the 76.4% Fib retracement level of the last wave from the $0.2030 low to $0.2220 high. Read more from newsbtc.com…
thumbnail courtesy of newsbtc.com