CandleFocus Cardano Faces Stiff Resistance at $0.346: Can Buyers Break the Range?
2024-09-11
Author: Content Editor
The price of Cardano (ADA) has been recovering, but it has faced resistance at $0.346. The cryptocurrency currently has a market cap of $12.19 billion and is trading at $0.3395, with a 24-hour drop of 1%. In the past seven days, ADA has seen a minor recovery with a 5.59% increase, thanks to a new upgrade. However, in the 4-hour chart, the recovery has struggled to surpass the $0.346 resistance level and has entered a consolidation phase with support at $0.338. The next crucial support level is at the 23.60% Fibonacci level of $0.333. Momentum indicators, such as the MACD and DMI, suggest a bearish shift, and the upcoming trend will depend on a range breakout.
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