- Cardano token price over the monthly chart is getting strong rejection of vital moving averages and now heading towards the support of a 200-day moving average.
- The crypto asset is trading on a bearish note and fails to suppress vital MA’s of 20, 50, and 100-day while currently moving towards its 200-day MA line.
- The pair of ADA/BTC is trading under pressure at 0.00003824 BTC with an intraday loss of -3.22%, and the ratio of ADA/ETH is dealing on a positive note at 0.000652 ETH with a 24-hour change of 1.09%.
Cardano token price over the monthly chart is trading under tight range, and the volume also dropped below the average line. The digital asset is projecting bearish momentum on the short-term chart, as the coin gets multiple rejections of the vital day MA line.
Volume over the monthly chart is recorded lower and falls below the average line, needs to improve in upcoming trading sessions. The crypto asset is now heading towards a crucial support line of 200-day moving averages, while one can see a good bounce in upcoming trading sessions. Support on the lower side is at $1.14 and $1.00, whereas resistance on the higher side is $1.41 and $1.61.
Cardano token price is forecasting bearish momentum
Over the weekly chart, Cardano token price is forecasting bearish momentum and heading towards the lower levels. The coin now reaches near its oversold zone, and short-term bounce back or pullback is expected in upcoming trading sessions. The technical parameters are also suggesting some weakness over the 4-hour time frame. ADA is trading at $1.21 with an intraday loss of -7.28%, and the volume/market cap ratio is at 0.03339.
Relative Strength Index (bearish): Cardano token RSI presently indicates a negative or bearish trend over the weekly chart. In contrast, the RSI is near the lower or oversold levels, and bounce is expected CMP 26.
Moving Average Convergence Divergence (bearish) currently indicates a sideways or bearish trend on the daily chart. This is because the seller’s line (red) is overpowering the buyer’s signal line (green).
Support levels: $1.14 and $1.00
Resistance levels: $1.41 and $1.61.