ADA Technical Analysis: Will Sellers Enforce the $1 Retest?

ADA coin price shows a consolidation phase below the $1.20 mark and might shortly break the 100-day EMA. Is this retracement a retest of the $1 breakout? Key technical points: ADA prices have fallen 6.32% in the past 24 hours. In addition, the token prices struggle to sustain above the 100-day EMA. Finally, the 24-hour trading volume of Cardano is $1.960 Billion, marking a 33.78% rise. Past Performance of ADA ADA coin price action shows a rounding bottom reversal from the $0.78 support level and approaches the $1.20 mark. The recovery rally breaks above the resistance confluence of the long coming resistance trendline and the rounding bottom neckline at $1. The rally accounts for almost a 50% jump but struggles to break above the $1.20 mark. Source-Tradingview ADA Technical Analysis ADA coin price shows a bearish candle resulting shortly in a 4% decline on March 31st, after a period of Dohi formations. However, the recent fallout candle projects lower price rejection with a long tail formation. The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment with the 100-day EMA providing support. Moreover, the reversing trend of the 50-day EMA might shortly give a bullish crossover with the 100-day EMA. Stochastic RSI Indicator: The Stochastic RSI shows the K and D lines giving a bearish crossover in the overbought territory. Hence, the indicator projects the possibility of a reversal below the 100-day EMA. MACD In...