ADA continues to fall after failing to break above $0.90.
Key Support levels: $0.64, $0.80
Key Resistance levels: $0.90, $1
1. Sellers Are Back
With the resistance at $0.90 firmly in place, sellers are controlling ADA’s price action, which has reached $0.80. This support level may open an opportunity for buyers to return, but it is not as strong as the support at $0.64. Hopefully, ADA consolidates here; otherwise, the price may fall even further.
2. Pullback Ongoing
The current pullback is significant, but nothing out of the ordinary. It would be quite bullish for ADA to hold around $0.80 as that will allow it to quickly reverse the downtrend and re-test the resistance at $0.90. If sellers are more aggressive and take ADA to $0.64, then it will take more time until a new uptrend can be established.
3. Buy Volume Falls
With buyers less interested in the past week, the price struggled, and this can be seen on the chart. The volume profile also shows a significant drop, with sellers dominating. This indicates a lack of interest in Cardano right now, but this can change if the $0.80 support holds.
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