ADA Could Drop Below $0.45 Support

The Cardano price prediction reveals that ADA may find a halt at $0.50 as the price is down by 5.99% over the last 24 hours.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.48
  • Cardano market cap – $16.36 billion
  • Cardano circulating supply – 33.75 billion
  • Cardano total supply – 34.27 billion
  • Cardano Coinmarketcap ranking – #5

ADA/USD Market

Key Levels:

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Resistance levels: $0.85, $0.90, $0.95

Support levels: $0.20, $0.15, $0.10

ADA/USD may drop further lower to find support at the $0.45 level. However, the daily chart reveals that the Cardano price may go lower below the 9-day and 21-day moving averages before rising again. Therefore, if the bears continue to push the market further lower, the immediate support below the $0.40 level may be located. Beneath this, further supports may be found at $0.20, $0.15, and $0.10.

Cardano Price Prediction: ADA Price May Head to the South

As the daily chart reveals, if the buyers can hold the support at $0.50, the Cardano price may begin to climb higher, and bulls could expect immediate resistance to be located above the 9-day and 21-day moving averages, which is not too close to the upper boundary of the channel.

However, moving towards the upper boundary of the channel may locate the higher resistance levels at $0.85, $0.90, and $0.95. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross into the oversold region, which shows that the market price may drop more.

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ADA/BTC Market: More Bearish Drops May Play Out

When compared with Bitcoin, the Cardano price is moving to the downside within the descending channel, where the price is expected to move below the 9-day and 21-day moving averages. Therefore, should the price cross below the lower boundary of the channel, the market could hit the support level at 1300 SAT and below.

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ADABTC – Daily Chart

On the contrary, if the bulls could manage and push the market towards the north, it may cross above the moving averages to face the upper boundary of the channel. If successful, the ADA price may reach the resistance level of 2100 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 remains below the 40-level.

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