Cardano Price Prediction: Will ADA Recover above $0.40 as it Slumped by 5.72%?

Cardano price prediction suggests the downtrend momentum of ADA as it leaves the consolidation phase.
ADA crypto is slipping below 20, 50, 100 and 200-days Daily Moving Average.
The pair of ADA/BTC is at 0.00001966 BTC with an intraday drop of 0.47%.

Cardano price prediction suggests the downtrend momentum of ADA crypto. However, after leaving from the falling parallel channel the token stuck inside the consolidation phase from then onwards the token has been consolidating over the daily price chart. ADA cryptocurrency needs to attract more buyers in order to surge over the daily chart. The price action of ADA crypto is trying to sustain at the current level to recover back above $0.40 over the daily chart. ADA investors need to wait for any directional change over the daily chart. Meanwhile, ADA coin price need to attract more buyers in order to surge over the daily price chart.

Cardano price is currently approximated at $0.386 and has lost 5.72% of its market capitalization in the last 24-hour period. However, trading volume has increased by 36.75% during the intraday trading session. This signifies that buyers are trying to accumulate themselves for the token’s recovery.

Cardano price prediction suggests that sellers are approaching for the token’s fall as it’s going through some serious selling pressure. ADA coin price needs to attract more buyers in order to recover itself above $0.40 level. However, volume change can be seen below average and needs to grow in favor of bulls for ADA crypto to recover over the daily chart. Meanwhile, ADA crypto is slipping below 20, 50, 100 and 200-days Daily Moving Average.

What do Technical Indicators suggest about ADA?

ADA coin price is falling with strong downtrend momentum over the daily price chart. Technical indicators suggest the downtrend momentum of ADA crypto. Relative Strength Index showcases the downtrend momentum of ADA coin. RSI is at 46 and is heading towards the oversold territory.

MACD exhibits the decreasing velocity of ADA coin. The MACD line is heading towards the signal line for a negative crossover. ADA investors need to wait for any directional change over the daily price chart.

Conclusion

Technical Levels

Support Level: $0.35 and $0.30

Resistance Level $0.45 and $0.50

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.