Key HighlightsADA price failed to move above the $0.3330 resistance and declined against the US Dollar (tethered). There was a break below a major bullish trend line with support at $0.3200 on the hourly chart of the ADA/USD pair (data feed via Bittrex). On the upside, there is a connecting bearish trend line forming with resistance at $0.3060 on the same chart. Cardano price is facing a lot of sell offers against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses below the $0.2850 support level. Cardano Price Upside HurdleThere was a minor upside move above the $0.3200 level this week in ADA price against the US Dollar. The price traded above the $0.3300 level, but it could move above the $0.3335 resistance level. The stated $0.3330 zone acted as a resistance on many occasions, and it prevented further upsides on more time. A fresh downside move was initiated and the price declined below $0.3200 and the 100 hourly simple moving average. During the downside move, there was a break below a major bullish trend line with support at $0.3200 on the hourly chart of the ADA/USD pair. The pair traded as low as $0.2827 and it is currently consolidating. The current wave is below the 50% Fib retracement level of the last upside from the $0.2827 low to $0.3130 high. However, the $0.2900 and $0.2800 levels are acting as supports. On the upside, there is a connecting bearish trend line forming with resistance at $0.3060. As long as the price is below the $0.3100 level, it remains at a risk of more declines. Below $0.2800, the price may move towards the $0.2500 level. On the upside, above $0.3100, the price could retest the all-important $0.3335 resistance. Hourly MACD – The MACD for ADA/USD is back in the bearish zone. Hourly RSI – The RSI for ADA/USD is just below the 50 level. Major Support Level – $0.2900Major Resistance Level – $0.3100 Charts courtesy – Trading View Cardano Price Technical Analysis – ADA/USD Remains at Risk was last modified: March 2nd, 2018 by Aayush Jindal