ADA Facing Critical Support as $0.30 Put Under Fire (Cardano Price Analysis)


Cardano continues to fall, and the price action remains bearish. The main consideration for ADA now is if the bulls are able to defend the key support level.

Key Support levels: $0.30, $0.28

Key Resistance levels: $0.33 

ADA’s price appears poised to fall below the critical level at $0.30. Should that happen, then the next key level to watch for is found at $0.28. The resistance is at $0.33, and Cardano was recently rejected, which started the current downtrend.

Chart by TradingView

Technical Indicators

Trading Volume: The volume is low, but this may soon change if ADA falls under $0.30. Such a breakdown could increase the appetite from sellers again.

RSI: The daily RSI is falling back to 30 points which makes the outlook bearish.

MACD: The daily MACD is bearish, and the histogram is making lower lows again, which indicates the selling momentum may pick up again soon.

Chart by TradingView


The bias for ADA is bearish.

Short-Term Prediction for ADA Price

With the bulls on the defensive and with little hope of success, Cardano may soon revisit levels not seen since January 2021, when ADA rallied from 18 cents to 35 cents. Now, in November 2022, the price is moving in the opposite direction and is about to break under 30 cents.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link Crypto Potato


Be the first to comment

Leave a Reply

Your email address will not be published.