Cardano’s price started a fresh decline below $0.250. ADA is testing important support at $0.2450 and might start a recovery wave.
ADA price started a fresh decline below the $0.255 and $0.250 levels against the US dollar.
The price is trading below $0.250 and the 100 simple moving average (4 hours).
There is a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
The pair must stay above the $0.2420 support to start a fresh increase in the near term.
Cardano’s ADA Price Revisits Support
After a steady increase, Cardano failed to clear the $0.2650 resistance zone. The price formed a short-term top at $0.2668 and recently started a fresh decline, like Bitcoin and Ethereum.
There was a drop below the $0.255 support level. Besides, there was a break below a key bullish trend line with support near $0.259 on the 4-hour chart of the ADA/USD pair. The pair even declined below the $0.250 support and the 100 simple mov
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