Crypto

Cardano Price Prediction: ADA Could Drop Below $0.40 Support


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The Cardano price prediction reveals that ADA may find a halt at $0.43 as the price is down by 1.95% after touching the $0.44 High.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.43
  • Cardano market cap – $14.8 billion
  • Cardano circulating supply – 34.2 billion
  • Cardano total supply – 34.96 billion
  • Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.60, $0.65, $0.70

Support levels: $0.30, $0.25, $0.20

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ADA/USD price may drop further lower to find support at the $0.42 level as the daily chart reveals that the Cardano price may go lower before rising again. However, if the bears continue to push the market further lower, immediate support below the $0.40 level may be located. Beneath this, further supports may be found at $0.30, $0.25, and $0.20.

Cardano Price Prediction: ADA Price Heads to the South

As the daily chart reveals, if the buyers can hold the support at $0.42, the Cardano price may begin to climb higher by crossing above the 9-day and 21-day moving averages, the bulls could expect immediate resistance to be located around the upper boundary of the channel.

However, crossing above the moving averages may locate the higher resistance levels at $0.60, $0.65, and $0.70. Meanwhile, the technical indicator Relative Strength Index (14) is moving to cross below the 40-level, which shows that the market price may drop more.

Against Bitcoin, the Cardano price is moving to the downside, likely to cross below the lower boundary of the channel. Therefore, should the price cross below the channel, the market could hit the support level at 2000 SAT and below.

ADABTC – Daily Chart

On the contrary, if the bulls could manage and push the market towards the north, it may cross above the 9-day and 21-day moving averages to face the upper boundary of the channel. If successful, ADA price may reach the resistance level of 2600 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the sellers as the signal line moves below the 50-level.

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