The price of Cardano (ADA) has recently fallen below the moving average lines and reached a low of $0.64. However, in the previous drop, the altcoin bounced back after hitting a low of $0.58 and the bullish momentum reached the upper resistance at $1.17. Currently, the altcoin is correcting higher after hitting the previous low. If the decline continues below the current support of $0.60, the market will hit the previous low of $0.50. On the other hand, if the current support holds, Cardano is expected to rise again and resume the uptrend. The ADA price is currently at $0.73. The price bars are below the moving average lines, indicating a recent decline, but the downward momentum has ended. The technical indicators suggest key resistance zones at $1.20, $1.30, and $1.40, and key support zones at $0.90, $0.80, and $0.70. Despite dropping below the moving average lines, Cardano is still in a sideways trend and is expected to move below the moving average lines but above the $0.60 support. The author's analysis and forecast are personal opinions and not a recommendation to buy or sell cryptocurrency.



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