Cardano fails to keep the previous day’s recovery moves, stay pressured below 21-day SMA. Clear trading below immediate SMA, bearish MACD direct sellers to nearby support line. Five-week-old horizontal area adds to the upside filters, 50-day SMA tests bears as well. ADA/USD remains depressed below 21-day SMA, currently down 1.15% to $1.1022, during early Wednesday. In doing so, the cryptocurrency pair stays below the immediate SMA for the third day in a row. Not only the sustained break of 21-day SMA but a clear downside past-horizontal region comprising multiple levels since February 20 and bearish MACD also favor Cardano sellers. As a result, ADA/USD sellers are currently eyeing the short-term support line, at $1.0780 now. However, the quote’s further downside will be tested by 50-day SMA and the monthly low, respectively around $1.0260 and $0.9870. It’s worth mentioning that the pair’s downside break of $0.9870 will not hesitate to challenge the late-February levels near $0.8000. On the flip side, a clear break above 21-day SMA and stated horizontal hurdle, near 1.1520 and 1.2015 in that order, will recall the ADA bulls. Though, the monthly high of 1.4720 and February’s top surrounding 1.4850 will be tough nuts to crack for ADA/USD buyers afterward. ADA/USD daily chart Trend: Further weakness expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD: Teases monthly bottom above 1.1800 amid EU’s virus-led lockdown, strong US dollar FX Street 1 year Cardano fails to keep the previous day's recovery moves, stay pressured below 21-day SMA. Clear trading below immediate SMA, bearish MACD direct sellers to nearby support line. Five-week-old horizontal area adds to the upside filters, 50-day SMA tests bears as well. ADA/USD remains depressed below 21-day SMA, currently down 1.15% to $1.1022, during early Wednesday. In doing so, the cryptocurrency pair stays below the immediate SMA for the third day in a row. Not only the sustained break of 21-day SMA but a clear downside past-horizontal region comprising multiple levels since February 20 and bearish MACD also favor Cardano sellers.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.