- Cardano had negative momentum on Tuesday’s trading session
- ADA price is $0.90, which is down by 5% in the last 24-hour time-frame and 3.70% up from the previous week
- ADA/BTC pair is negative with a loss of 4.30% in Tuesday’s trading session (0.00001937)
Cardano had negative momentum on the weekly chart, and it went up to $1.19 on February 20, 2021, while breaking over the resistance zones created in the past. ADA price framed a record of a 52-week high. Meanwhile, the trading volume of $11,475,268,536 in the last 24-hour time-frame signifies an increase in the value of 95%. The ADA/ETH pair is positive with a rate of (0.00062682) which is up by 1.15% in Tuesday’s trading session.
Cardano (ADA) Technical Chart Indicates a Bearish Trend
The technical chart of Cardano highlights a negative trend. In contrast, ADA price is at $0.90. According to pivot points, the critical support level for ADA is placed at $0.80. Whereas if it moves up, the key resistance levels to watch is $1.20. While diving into the weekly chart of a 4-hour time-frame, it completes an inverted hammer candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
Volume indicator with the amount (26.469M) exhibits a selling volume in coin. Investors can further expect an increase in selling volume in future trading sessions.
SMA-200, price is at $0.63, which acts as another reliable support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.
MACD indicator (BEARISH), Bearish crossover over signal line detected on February 23, 2021, indicated a sell signal in the coin during the trading session. Also, it denotes massive red bars on Histogram.
RSI indicator (BEARISH) with a value of 38.23 indicates a sell signal in the coin, investors can witness a decrease in value in upcoming trading sessions.
ADA price is down by 5% on Tuesday’s trading session. The price is above the SMA of $0.63 Investors may expect the movement of price towards the support level of $0.80 if it sustains below the price may hit $0.70 All technical indicators recommend a sell signal in the coin.