Cardano price started a fresh decline from the $0.9650 zone. ADA is now consolidating and facing hurdles near the $0.880 and $0.8980 levels.
- ADA price started a fresh decline below the $0.920 support zone.
- The price is trading below $0.90 and the 100-hourly simple moving average.
- There is a key contracting triangle forming with resistance at $0.8720 on the hourly chart of the ADA/USD pair (data source from Kraken).
- The pair could start a fresh increase if it clears the $0.880 resistance zone.
Cardano Price Eyes Upside Break
After a steady increase, Cardano faced sellers near $0.9650 and started a downside correction, like Bitcoin and Ethereum. ADA dipped below the $0.920 and $0.900 support levels.
The bears even pushed the price below $0.880. A low was formed at $0.830 and the price is now consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the recent decline from the $0.9641 swing high to the…
