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Cardano (ADA) had a key uptrend line that maintained its support at $ 0.1500. Unfortunately, the price broke below this support level and moved into a bearish zone. At the time of writing, the ADA at. The USD currency pair traded in the bearish territory below USD 0.1450. The price could not have accelerated and if the decline continues, ADA could fall as low as $ 0.1300.
Cardano Price Analysis Today, July 6
During the trading session this morning, Cardano attempted to overtake the resistance of $ 0.1600 level compared to the USD. Unfortunately, the pair of Cardano USD cards was not able to accelerate and went down to the $ 0.1550 level. According to Aayush Jindal, a cryptocurrency analyst, the trading pair broke below the 23.6% Fibonacci retracement level of the latest rise from 0.1132 to $ 0.1607.
Cardano (ADA) Price Today / USD
What opened the way more loses and pushed the price below the support level of $ 0.1500. The pair not only broke the uptrend line of $ 0.1500 but also broke the $ 0.1450 support. There was immediate support formed around the Fibonacci retracement level of 50% from the last increase from $ 0.1132 to $ 0.1607 placed at $ 0.1370. If the price falls below this level, it can slide to $ 0.1300 and also break that level of support. Nothing more than that can send the price up south at the level of $ 0.1250.
Technical Indicators of Cardano Price Analysis
Technical indicators, ADA set below the support level of $ 0.1450. This support could act as a resistance if ADA tries a bullish move against the USD. In addition, the simple moving average of 100 hours and the level of $ 0.1500 are now serving as barriers for buyers. The relative strength index of the price action is less than 40 and moves lower. The MACD on the hourly chart is entirely in the bearish territory. The significant resistance level is $ 0.1450 while the significant support is $ 0.1350
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