Prices for Cardano's token (ADA) demonstrate new downward trends, breaking key support levels and facing additional selling pressure.
Current Price Situation of ADA
The ADA token has fallen below the critical support level of $0.850 and is now trading around $0.80. Technical analysis indicates that the asset is under pressure as bulls test key support zones.
Resistance and Support Levels
For ADA to recover, it must overcome the resistance level around $0.820. Key support levels are at $0.800 and $0.780. A breakdown below these levels could lead to further declines.
Key Technical Indicators
Indicators like MACD and RSI point to market sentiment deterioration. MACD shows increasing selling pressure, while RSI remains below 50, confirming a bearish trend.
The situation concerning ADA indicates significant technical challenges. A breakout above $0.840 is necessary for recovery, while holding below $0.780 could lead to further declines.
