The Cardano price prediction shows that ADA trades below $0.320 as the coin may be entering deeply into the negative side.
Cardano Prediction Statistics Data:
- Cardano price now – $0.314
- Cardano market cap – $10.8 billion
- Cardano circulating supply – 34.4 billion
- Cardano total supply – 35.1 billion
- Cardano Coinmarketcap ranking – #8
Resistance levels: $0.390, $0.410, $0.430
Support levels: $0.250, $0.230, $0.210
ADA/USD is moving to the downside as bears now move to dominate the entire cryptocurrency landscape. At the moment, the Cardano price is hovering below the 9-day and 21-day moving averages as the trend has a bearish inclination, which may likely touch the support at $0.300. However, the technical indicator remains bearish as the Relative Strength Index (14) may remain below 40-level.
Cardano Price Prediction: ADA Price Could Drop Below $0.300
The Cardano price is currently hovering at $0.314; the daily chart shows that the coin is trading below the 9-day moving average. At the time of writing, the market price nosedives to the downside, issuing a sell signal as the technical indicator Relative Strength Index (14) stays below the 40-level.
Moreover, a minimum swing may likely bring the market to the $0.280 support level. Therefore, moving below this level could take the bears to the support levels of $0.250, $0.230, and $0.210. On the other hand, a high swing could take the bulls to cross above the 21-day moving average. Above this, the coin can trigger a bullish rally which may take the price to $0.390, $0.410, and $0.430 resistance levels.
Against Bitcoin, the daily chart reveals that bears continue to push the price toward the south. The daily chart reveals that the trend may continue to follow the downtrend as buyers were unable to keep the price above 9-day and 21-day moving averages.
However, as the technical indicator Relative Strength Index (14) moves to cross below the 40-level, it is likely to move toward the oversold region, and a bearish continuation could lower the price to the support level of 1500 SAT and below, but if it crosses above the moving averages, the market price may likely begin an upward trend which could push the coin towards the resistance level of 2300 SAT and above.
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