ADA Price Wrestles With Stubborn Resistance Desp

ADA Price Wrestles With Stubborn Resistance

Despite the sharp fall of 4.7 percent in ADA’s price to $0.6472, volume surged which is usually a sign that big players are making changes for a bigger move ahead. Despite many efforts by bulls, the $0.60–$0.63 support continues to hold and each time ADA Price rises above $0.74, it is immediately pulled back. Currently, Cardano’s trades near $0.67 which shows instability with the coin.

Since the super-trend indicator stays on the bearish side and the daily structure still has lower highs, downward movement is more likely to continue until the price rises above $0.74. Even with that, RSI has recovered from oversold, meaning ADA Price could head toward $0.69 shortly and try a breakout at $0.73 if buying continues