Cardano got no relief as the 35 cent support was broken to the downside. With the buyers absent, the price has only one direction at the moment.
Key Support Levels: $0.30
Key Resistance Levels: $0.35
ADA is fast approaching key 30 cent support. The bears are in full control of the price action, which has been bearish since mid-February. Current resistance is at 35 cents and will likely not be tested until the cryptocurrency finds support.
Trade volume: Steady selling volume has pushed the price down on an almost daily basis. Buyers are nowhere to be seen at the moment.
RSI: The daily RSI is at 34 points and may soon reach the oversold area below 30 points.
MACD: The daily MACD remains bearish, with the moving averages continuing lower. There are no signs of a possible reversal yet.
Inclination
ADA’s bias is bearish.
Short Term Prediction for ADA Price
The current price action remains bearish, and it is important to see how the market will play out in the coming week following some major macroeconomic events.
Binance Free $100 (Exclusive) – Use this link to sign up to receive $100 free and 10% off your first month’s fees for Binance Futures (terms).
PrimeXBT Special Offer – Use this link to sign up and enter the code POTATO50 to receive up to $7,000 on your deposits.
Disclaimer: The information found on CryptoPotato is that of the writers cited. It does not represent the views of CryptoPotato on whether to buy, sell or hold investments. You are advised to do your own research before making any investment decisions. Use the information provided at your own risk. Consult the Legal Notice for more information.
cryptocurrency charts by TradingView.
