- Cardano price has dropped significantly through the ongoing bearish rally over the daily price chart.
- ADA price has shifted below the consolidation phase and is currently trading at the lowest levels.
- The pair of ADA/BTC is at 0.00001973 BTC with an intraday drop of 3.60%.
Cardano price prediction suggests the red and intense trading sessions of the ongoing crypto bloodbath. As Bitcoin, the greatest market dominator, slips below $19000 level where it was supposed to get support, all other altcoins are facing significant losses throughout the cryptocurrency market. ADA price is also one of the altcoins falling significantly shattering the hopes of cryptocurrency investors. ADA crypto price needs to accumulate buyers and must look for a strong support zone to reverse the trend. Meanwhile, due to the ongoing bear market Bitcoin’s market dominance has crashed till 38% as of now. ADA investors need to wait until bulls come forward to save the token from falling significantly below the lowest level.
Cardano price is currently approximated at $0.36 and has dropped by 7.61% in the market capitalization in the period of 24-hour. However, trading volume is still positive by 105.96% in the intraday trading session. This demonstrates that buyers are trying to put an effort to save ADA crypto.
ADA price has been consolidating inside the horizontal range-bound area over the daily price chart. ADA price has been fluctuating inside the price range of $0.60 and $0.42, but the cryptocurrency has left the price range and is currently trading below the consolidation phase. Meanwhile, volume change suggests that ADA price has been caught inside the short-sellers clutch and buyers need to accumulate for the rescue of the token.
ADA being Extremely Oversold According to RSI!
ADA price prediction suggests that ADA crypto is being oversold and is currently trading inside the extreme oversold territory as prompted by Relative Strength Index. MACD exhibits the downtrend momentum of ADA coin. The MACD line is below the signal line after a negative crossover. Investors in ADA cryptocurrency must wait for any directional change over the daily price chart.
Conclusion
Cardano price prediction suggests the red and intense trading sessions of the ongoing crypto bloodbath. As Bitcoin, the greatest market dominator, slips below $19000 level where it was supposed to get support, all other altcoins are facing significant losses throughout the cryptocurrency market. ADA price is also one of the altcoins falling significantly shattering the hopes of cryptocurrency investors. ADA crypto price needs to accumulate buyers and must look for a strong support zone to reverse the trend. Meanwhile, volume change suggests that ADA price has been caught inside the short-sellers clutch and buyers need to accumulate for the rescue of the token. The MACD line is below the signal line after a negative crossover.
Technical Levels
Support Level: $0.35 and $0.30
Resistance Level: $0.42 and $0.55
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.