Cardano Gained 3.95% in Last Month and is Predicted to Drop to $0.280420 By Jul 29, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Cardano is down -3.04% today against the US Dollar
• Cardano is currently trading 9.11% above our prediction on Jul 29, 2023
• Cardano gained 3.95% in the last month and is down -40.70% since 1 year ago

ADA price is expected to drop by -8.35% in the next 5 days according to our Cardano price prediction

Cardano price today is trading at $ 0.305968 after losing -3.04% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.96% in the same time period. ADA performed poorly against BTC today and recorded a -0.87% loss against the world’s largest cryptocurrency.

According to our Cardano price prediction, ADA is expected to reach a price of $ 0.280420 by Jul 29, 2023. This would represent a -8.35% price decrease for ADA in the next 5 days.

ADA Price Prediction Chart

Buy/Sell Cardano

What has been going on with Cardano in the last 30 days

Cardano has been displaying a positive trend recently, as the coin gained 3.95% in the last 30-days. The medium-term trend for Cardano has been bearish, with ADA dropping by -19.34% in the last 3 months. The long-term picture for Cardano has been negative, as ADA is currently displaying a -40.70% 1-year price change. On this day last year, ADA was trading at $ 0.515967.

Cardano reached its all-time high price on Sep 02, 2021, when the price of ADA peaked at $ 3.10. The current ADA cycle high is $ 0.377521, while the cycle low is at $ 0.223375. ADA has been displaying low volatility recently – the 1-month volatility of the coin is at 5.75. Cardano recorded 13 green days in the last 30 days.

Cardano technical analysis for today – Jul 24, 2023

The sentiment in the Cardano markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.310755, $ 0.304609 and $ 0.300777, while $ 0.320733, $ 0.324566 and $ 0.330712 are the key resistance levels.

Bearish sentiment for Cardano

3 indicators are currently signaling a bullish prediction for Cardano, while 26 indicators are showing a bearish forecast. With 90% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Cardano.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 55 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Cardano moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Cardano is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Cardano is at 51.67, suggesting that ADA is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Cardano over the last 50 days. Currently, Cardano is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ADA closing price for the last 200 days. ADA is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Cardano prediction

After considering the above factors, we can conclude that the current forecast for Cardano price prediction is Bearish. ADA would have to decrease by -8.35% to hit our $ 0.280420 target within the next five days. Moving forward, it will be important to monitor the ADA market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Cardano price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.