Sunday , November 24 2024
Home / Crypto news / ADA Price Analysis: Cardano Opens Monday in Red, What’s the Next Support if $0.90 Fails?

ADA Price Analysis: Cardano Opens Monday in Red, What’s the Next Support if $0.90 Fails?

Summary:
Key Support levels: %excerpt%.90, %excerpt%.79  Key Resistance levels: , .2 This Monday saw the market open in red, and ADA dropped 5% in a few hours. The support at %excerpt%.90 is struggling to prevent the cryptocurrency from falling lower but will likely fail if the selling pressure continues. Should that happen, ADA has good support at %excerpt%.79. The resistance at is unlikely to be tested considering the current price action. Chart by TradingViewTechnical Indicators Trading Volume: The volume picked up on this latest drop after a flat price action over the weekend. This is bad news for bulls and shows the sellers are serious. RSI: The daily RSI made a lower high and may make a lower low again which would place the trend firmly on the bearish side. MACD: The daily MACD remains bearish,,

Topics:
Duo Nine considers the following as important: , , ,

This could be interesting, too:

Dimitar Dzhondzhorov writes Important Binance Announcement Affecting Certain XRP, ADA, and DOGE Traders: Details

Jordan Lyanchev writes Cardano (ADA), Ripple (XRP) Defy Market Sentiment With Double-Digit Price Surges: Details

Jordan Lyanchev writes How High Can Cardano (ADA) Go With Hoskinson Helping Create US Crypto Policy?

Dimitar Dzhondzhorov writes Top 10 Cryptocurrencies by ‘Notable Development Activity’ (Santiment)

Key Support levels: $0.90, $0.79 

Key Resistance levels: $1, $1.2

This Monday saw the market open in red, and ADA dropped 5% in a few hours. The support at $0.90 is struggling to prevent the cryptocurrency from falling lower but will likely fail if the selling pressure continues. Should that happen, ADA has good support at $0.79. The resistance at $1 is unlikely to be tested considering the current price action.

ADAUSDT_2022-04-18_16-01-50
Chart by TradingView

Technical Indicators

Trading Volume: The volume picked up on this latest drop after a flat price action over the weekend. This is bad news for bulls and shows the sellers are serious.

RSI: The daily RSI made a lower high and may make a lower low again which would place the trend firmly on the bearish side.

MACD: The daily MACD remains bearish,, with the moving averages looking like they are ready to accelerate downwards if sellers maintain the pressure.

ADAUSDT_2022-04-18_16-01-33
Chart by TradingView

Bias

The bias for ADA is bearish.

Short-Term Prediction for ADA Price

Cardano at $0.79 by the end of this week if bears continue their assault is not out of the question. It’s also worth noting that the entire market opened in red, and this inevitably translated to troubles for ADA as well.

About Duo Nine

Leave a Reply

Your email address will not be published. Required fields are marked *