Cardano has the potential to weaken toward its nearest support level today | Trading Insights

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[Cardano]

Although RSI(14) condition is in the Neutral-Bullish level, but with both EMAs which still forming a Death Cross intersection, Cardano is likely to continue its weakness toward the nearest support level.

Key Levels

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1. Resistance. 2 : 0.28150

2. Resistance. 1 : 0.27643

3. Pivot : 0.27135

4. Support. 1 : 0.26628

5. Support. 2 : 0.26120

Tactical Scenario

Pressure Zone: If the price breaks down and closes below 0.27135, there is potential pressure toward 0.26628.

Momentum Extension Bias: If 0.26628 is broken, there is a quite big opportunity that this cryptocurrency will continue its weakening to 0.26120.

Invalidation Level / Bias Revision

The downside bias is restrained if the price strengthens and breaks above 0.28150.