Cryptocurrency

ADA/USD Bracing for Further Decline Below $0.32


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The Cardano price prediction shows that ADA may be facing another bearish run to the support level of $0.20.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.324
  • Cardano market cap – $11.1 billion
  • Cardano circulating supply – 34.4 billion
  • Cardano total supply – 35.1 billion
  • Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.40, $0.42, $0.44

Support levels: $0.25, $0.23, $0.21

ADA/USD is trading below the 9-day and 21-day moving averages as the coin heads to the downside. However, the traders could see that bears are stepping back into the market and the Cardano price is likely to lose momentum towards the lower boundary of the channel along with a potential price surge.

Cardano Price Prediction: ADA/USD Might be Down Right Now

At the time of writing this, the Cardano price is moving sideways as the coin the bears continue to take charge of the market. Meanwhile, a bullish cross above the 9-day and 21-day moving averages is needed for the coin to correct the immediate bearish pressure and take the coin back on the recovery trend. Once it is out of the way, the upside is likely to gain traction with the next focus at the resistance levels of $0.40, $0.42, and $0.44.

However, on the downside, once the support level of $0.30 is broken, the sell-off could gain traction with the next focus at the nearest support level of $0.28, which could be followed by the nearest support level of $0.26. Therefore, if these levels are broken, the downside pressure may increase and the next supports could be located at $0.25, $0.23, and $0.21 while the technical indicator Relative Strength Index (14) moves below the 40-level.

ADA/BTC Market: Cardano Price Could Shoot to the Upside

Against Bitcoin, the Cardano (ADA) is range-bounding as revealed by the technical indicator Relative Strength Index (14). However, as the coin moves below 9-day and 21-day moving averages, a low swing could bring ADA/BTC to the support level of 1600 SAT and below.

ADABTC – Daily Chart

On the other hand, a rebound may occur if the buyers could push the coin towards the upper boundary of the channel crossing above this barrier could help the coin to hit the potential resistance level of 2400 SAT and above.

Besides that, IMPT is making great strides by raising around $12.5 million in just a few weeks. The Impact Token is still selling fast, and more and more buyers are showing interest.

On the same note, despite the current movement of the Cardano (ADA), the D2T token keeps winning the heart of many buyers because CZ of Binance has already announced an industry recovery plan for crypto projects as presale has raised almost $6.5 million so far.

Related

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