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crypto Queen Abrash

06/10 00:40

Cardano (ADA) Price Drop: Key Levels to Watch Amid

Cardano (ADA) Price Drop: Key Levels to Watch Amid Ongoing Decline

Cardano (ADA) has experienced a notable price drop, slipping below the $0.70 mark and breaching a significant support level at $0.6840. As a result, this decline has positioned ADA in a bearish zone, with the price currently trading around $0.66963.

Looking at technical indicators, further downside potential appears likely. The immediate support lies at $0.6625, followed by a more substantial level at $0.650. If a break occurs below these, it could open the path to $0.620. On the other hand, resistance is seen near $0.6825 and $0.700. The hourly MACD is gaining momentum in the bearish zone, and the RSI is below the 50 level, indicating continued selling pressure. unnamed.png

Consequently, investors are closely monitoring these levels to assess ADA’s next move. A sustained recovery above the resistance levels could signal a potential reversal, whereas a drop below the support zones may lead to further declines. 
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