Key HighlightsADA price started a fresh downside move from the $0.1750 swing high against the US Dollar (tethered). There is a crucial bearish trend line forming with resistance at $0.1600 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may perhaps continue to move down towards the $0.1550 and $0.1505 support levels. Cardano price failed to move higher and declined against the US Dollar and Bitcoin. ADA/USD is likely to extend the current decline towards the $0.1505 level. Cardano Price AnalysisThis past week, there was a minor upside recovery from the $0.1460 swing low in ADA price against the US Dollar. The price climbed above the $0.1500 and $0.1600 resistance levels, but it failed to hold gains. A top was formed around the $0.1740 level before the price started a downside move. It declined and broke the $0.1650 and $0.1600 support levels to settle below the 100 hourly simple moving average. There was also a break below the 50% Fib retracement level of the last wave from the $0.1462 low to $0.1746 high. At the moment, the price is trading well below the $0.1650 level and the 100 hourly SMA. It is testing the 61.8% Fib retracement level of the last wave from the $0.1462 low to $0.1746 high. A break below the $0.1550 support level may well call for more slides towards the $0.1505 level in the near term. On the upside, there is a crucial bearish trend line forming with resistance at $0.1600 on the hourly chart of the ADA/USD pair. The chart indicates the price could extend declines as long as it is below $0.1650 and the 100 hourly SMA. The most important support on the downside is at $0.1505 where buyers may put to test. Hourly MACD – The MACD for ADA/USD is placed nicely in the bearish zone. Hourly RSI – The RSI for ADA/USD is declining towards the 20 level. Major Support Level – $0.1505Major Resistance Level – $0.1600 Cardano Price Analysis: ADA/USD Is In Downtrend was last modified: June 18th, 2018 by Aayush Jindal