Cardano (ADA) Breaks Key Support! Can the Price Return to Uptrend?

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The price of Cardano has continued to decline after breaking below $1.00, currently facing significant resistance around $0.920 and $0.950. Technical indicators show that ADA is hovering at a critical level, which may determine the next move.

Current Market Overview

Price Trend: ADA has broken below $1.00 and lost the support level of $0.950.

Moving Average Pressure: The price is below the 100-hour simple moving average.

Bearish Trend Line: Formed at the resistance level of $0.920, limiting short-term rebounds.

Upward Potential Analysis

If ADA breaks through the resistance area of $0.950, it may trigger a new round of upward movement:

Key Resistance Levels: $0.920, $0.9350.

Breakout Potential: Once it breaks $0.950, ADA may retest the $1.00 mark, or even temporarily surge to $1.050.

Downward Risks

If the price fails to break above $0.920, it may continue to decline:

Recent Support Levels: $0.8950 and $0.8650, corresponding to the Fibonacci 61.8% retracement level.

Lower Targets: The price may test $0.820, or even drop to $0.8050, which is the last defense zone for bulls.

Cardano is currently facing a decision on direction; breaking resistance may reopen the uptrend, while losing key support could lead to further pullbacks. Traders should closely monitor changes in the $0.920 and $0.950 regions to capture the next price trend.

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