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Cardano Crash Coming? Watch $0.60 Like a Hawk
- Cardano (ADA) price is facing downward pressure, hovering around $0.62 with a fragile structure.
- On the daily chart, ADA remains below key moving averages, with the 50 SMA acting as immediate resistance.
- The price struggles to stay above the support zone at $0.62 and $0.60, with weakening momentum indicated by Heikin Ashi candles.
- ADA price has declined approximately 17.3% in over two weeks, showing increasing volatility and failed breakout attempts.
- The hourly chart suggests a bearish sentiment as ADA failed to sustain above short-term moving averages and faces resistance near $0.65.
- ADA has been consolidating between $0.61 and $0.64, indicating a possible bearish breakout scenario impending.
- If the crucial psychological support at $0.60 breaks, ADA may target $0.54 as the next visible support zone.
- Bulls need to close above $0.67 on the daily chart to reestablish a bullish outlook, aiming for $0.70 and $0.76 as resistance levels.
- The overall prediction indicates a likelihood of testing the $0.60 support and a potential move below it in the near future.
- In a bullish scenario, ADA might rebound to $0.67, while a bearish breakout could lead to $0.54–$0.55 as the next price targets.
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