• Cardano (ADA) price is showing bearish signs below the $0.40 support zone against the US Dollar.
• The price is struggling to recover and is trading below the $0.380 and $0.375 support levels.
• ADA price could start a fresh increase if it clears the $0.375 and $0.38 resistance levels.
Cardano Price Analysis
Cardano (ADA) price is currently displaying bearish signs below the $0.40 support zone against the US Dollar. The price has been unable to recover and is trading below both the $0.380 and $0.375 support levels, as well as the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.375 on the 4-hour chart (data feed via Coinbase).
Resistance Levels for ADA Price
Immediate resistance for ADA lies near the $0.375 zone, along with its trend line, as well as at 50% Fibonacci retracement level of its recent drop from a swing high of $0