Cardano (ADA) is entering the weekend trading around $0.656, struggling against resistance levels.
Current Market Situation of Cardano (ADA)
Cardano (ADA) continues to trade at approximately $0.656 after multiple rejections from the resistance zone between $0.70 and $0.75. The current market situation indicates that buyers are lacking the conviction to push prices higher.
Technical Indicators Analysis
On the 4-hour chart, there is noticeable consolidation with potential selling pressure above the $0.70 mark. Indicators show weak momentum, with ADA trading below key moving averages and a neutral RSI.
Support and Resistance Levels for the Weekend
The nearest support is in the range of $0.62 to $0.64, where buyers are defending the level. The resistance at $0.68 is also critical in determining the direction of future movements. As long as ADA remains below $0.70, sellers hold the advantage.
In conclusion, Cardano (ADA) is showing consolidation at current levels, with further actions dependent on key level breakout.
