Cardano’s price could not move higher and sellers returned.
Key Support levels: $0.38, $0.35
Key Resistance levels: $0.41
1. Momentum Shifts Bearish
Momentum has turned bearish this week after buyers failed to make a higher high. With the price on the key support at $0.38, bulls have to do their best to defend this level.
2. Volume Declines
With the uptrend lost, the buying pressure declined, and now sellers appear to have taken over the price action. The resistance at $0.41 continues to hold strong and has so far rejected all attempts by Cardano to break it.
3. Bearish MACD
In the past few days, the daily MACD has been falling, and the bearish momentum has intensified. If nothing changes, then ADA could fall to $0.35 next.
Bias
The bias for ADA is bearish.
Short-Term Prediction for ADA Price
With bears taking control of the price, ADA is found at a critical support level. Should $0.38 fall, then buyers will most likely retreat to $0.35 next.
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