The ADA price plans to retest the March bottom support of $0.77. Will history repeat itself with a bullish reversal? Key technical points: The daily-RSI slope approaches the oversold region moreover, the 20-day EMA offers constant resistance to ADA price The 24-hour trading volume of Cardano is $866.2 Million, marking a 23.6% loss. Past Performance of ADA At the end of March, the ADA chart showed multiple higher rejection candles at $1.22 resistance, indicating the sellers are aggressively defending this level. Amid the recent sell-off in the market, the coin price turned down from this level and sank below the $1 psychological support. Anyhow, the altcoin current traders are 0.83 mark with a 32% loss from the overhead resistance($1.22) Source-Tradingview ADA Technical Analysis The sustained selling has breached the 20, 50, and 100 EMAs support as it gradually nearing the March bottom support of $0.77. however. previously this support level has triggered a 58% recovery rally, making it a strong accumulation zone for buyers. In a bearish sequence, the declining crucial EMAs(20, 50, 100, and 200) reflect a solid bear trend. Moreover, the 20-day EMA gives dynamic resistance to the ADA price. MACD Indicator: The fast and slow lines gradually lowering beneath the neutral line suggest aggressive selling from the traders. However, the faded red bar on the histogram chart predicts a slight weakness, RSI Indicator: The RS(35) slope dro...
