Cardano (ADA) Price Analysis: More Losses Likely Below $0.07

It is trading near the 23.6% Fibonacci retracement level of the recent decline from the $0.0945 high to $0.0770 low. The 50% Fibonacci retracement level of the recent decline from the $0.0945 high to $0.0770 low is also near the $0.0860 level.

The main resistance for the bulls is near the $0.0900 level and the 55 simple moving average (4-hours). The chart indicates that ADA price is clearly currently trading in a bearish zone above the $0.0850 support level and the 55 simple moving average (4-hours).

Timeline of Cardano