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Cardano continues daily downtrend

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Crypto Daily, Recent news

ADA/USD – Cardano recently reversed down with the daily candlestick pattern Dark Cloud Cover from the resistance area located between the key resistance level 0.8500 (former support from the middle of April), 20-day moving average and the 61.8% Fibonacci correction of the downward impulse from April.

Given the clear bearish sentiment that can be observed across the cryptocurrency market today and the strong daily downtrend – Cardano prices can be expected to fall toward the next support level 0.734 (which has been reversing the price from February).

Last Updated: May 6, 2022

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Cardano continues daily downtrend

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