Cardano cryptocurrency recently reversed down from the resistance area located between the key resistance level 0.8330 (former support level which has been reversing the price from the end of February), 20-day moving average and the 38.2% Fibonacci correction of the downward impulse from last month. The downward reversal from this resistance area continues the active impulse waves 5 and (iii).
Given the clear daily downtrend and the worsening of the risk sentiment seen across the crypto markets today – (ADAUSD) Cardano cryptocurrency prices can be expected to fall further toward the next support level 0.7000.
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