Could Cardano (ADA) study the possibility of a recovery?

Cardano (ADA) reached $0.4520 after reversing gains. ADA must remain above $0.450 to rally again.

ADA struggles to get more than $0.4750.

The price is below $0.460 and the 100 hourly simple moving average.

ADA/USD has broken through the downtrend line with resistance at $0.4570 on the hourly chart.

The pair may rise if it closes above $0.4620.

Support for Cardano price tests

Cardano declined in recent sessions after failing to breach the $0.4750 barrier. ADA fell below $0.4620 and tested $0.4520 like Bitcoin and Ethereum.

The price consolidates its losses after the lowest level at $0.4516. A modest rally occurred above $0.4550. ADA/USD has broken through the downtrend line with resistance at $0.4570 on the hourly chart. The pair challenged the 23.6% Fibonacci retracement levels of the recent decline from the high of $0.4743 to the low of $0.4516.

Cardano is below the $0.4620 level and the 100 hourly simple moving average. Resistance at $0.4960 is imminent to the upside. The 50% Fib retracement of the recent decline from the high of $0.4743 to the low of $0.4516 is approaching $0.4620, which is the first resistance.

The next hurdle could be $0.4750. Close above 0 barrier.$4,750 may lead to a strong rally