Cardano (ADA) Price Analysis: Next Key Break Near, Can Bulls Make It?

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ADA price extended losses and tested the $0.0475 level against the US Dollar. The price is currently correcting higher, but it is facing a strong resistance near $0.0540 and $0.0550. There is a crucial bearish trend line forming with resistance near $0.0542 on the 4-hours chart (data feed via Kraken). The price could either break above the $0.0540 resistance or it could again slide below $0.0500. Cardano price is facing an uphill task against the US Dollar and bitcoin. ADA price might resume its decline if it fails to climb above $0.0540 and $0.0560. Cardano Price Analysis Recently, cardano price extended its losses below the key $0.0560 and $0.0550 supports against the US Dollar. The ADA/USD pair even broke the $0.0520 support and settled well below the 55 simple moving average (4-hours). Finally, the price broke the $0.0500 support and traded to a new monthly low at $0.0475. It is…

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