Cardano (ADA) has experienced a downside correction from the $1.1780 level and is currently consolidating. The price faces obstacles near $1.180 and $1.200. Despite this correction, Cardano has shown an upward trend, surpassing resistance levels at $1.050 and $1.120. However, bears have been active below the $1.20 level. The price is now consolidating gains and trading above $1.050 and the 100-hourly simple moving average. Resistance is anticipated near $1.150 and $1.160. If the price manages to break and close above $1.20, it could start a strong rally towards $1.2280 and potentially $1.250. On the other hand, if the price fails to surpass the $1.180 resistance level, it may start another decline, with immediate support at $1.10750 and subsequent support at $1.050. A break below $1.050 could lead to a test of $1.00, with major support near $0.920. Currently, the MACD indicator is showing bearish momentum, while the RSI is below 50.



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