Compass Investments

The current situation in Spain remains ambiguous.

Cardano price has started a consolidation phase near the consolidation zone of 1.00. ADA maintains this position and may seek a new rise above the level of 1.050.

ADA prices began a new rise from a new zone of 0.8800.

price is trading above the level of 0.950 and 100-hour simple moving average.

On the hourly chart of ADA/USD (Kraken data source), a major bearish trend line with resistance at 1.020 has been formed. If it breaks the resistance zone at 1.050, the pair may start a new growth.

Over the past few days, Cardano has again risen above the resistance level of 0.850. ADA, like bitcoin and Efirium, remains in active territory. The price rose above the resistance0.880 level and from 0 to 0.9250.

The price broke the 50% Fibonacci retracement level in a downward move from a high of 1.150 to a low of 0.8696. It broke through the 1.00 level. However, the bear is currently active near the 1.050 zone. On the hourly chart of the ADA/USD pair, a major bearish trend line has also formed with resistance at 1.020.

the trend line is near the 61.8% Fibonacci retracement level, which is a downward movement from the high of 1.150 to the low of 0.8696. Cardano price is currently trading above 0.950 and the 100-hour simple moving average.

If the price rises, resistance may occur around 1.020. The initial resistance is around 1.050. The next major resistance could be around 11.0840. If the price corrects above 1.0840, a strong rally could begin. In this case, the price may rise to the 1.1500 area. Further growth may lead to the transition to 1.20.

Does Dips support ADA?

If the price of Cardano does not rise above the resistance level of 1.050, a new fall may begin. The nearest downtrend support is located near 0.9650 yen.

the next major support is near 0.9350 level. A break below 0.9350 could open the way for a test of 0.880. The next major support is near the 0.8450 level, where the bulls may appear.

Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone.