Cardano – ADAUSD prices reversed from the resistance area

ADAUSDCardano cryptocurrency prices fell inside the intermediate impulse wave (5), which recently reversed from the resistance area. Located at the intersection of the critical resistance level 1.236 (the previous monthly high from February and March) and the 61.8% Fibonacci correction of January’s last sharp downward impulse. 
First, it is crucial to consider the actively strong daily downward trend and the growing risk-off sentiment that can be seen today across the cryptocurrency market. Cardano prices can expect to fall further toward the next round support level of 1.0000, former resistance from the start of March.

ADAUSD - Primary Analysis - Apr-08 1254 PM (1 day)

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