Cardano (ADA) is in a downtrend, but buyers have been trying to keep the price above the moving average lines. The uptrend was rejected at the $0.44 resistance.
Cardano price Long-term forecasts: bearish
The cryptocurrency is currently falling downwards and could reach a low of $0.37. The upward correction is hindered by the $0.44 resistance. However, if ADA rises above the 50-day line SMA, it will rise above the moving average lines. Upside momentum could resume. ADA will likely be driven by buyers to retest the upper barrier at $0.60. In contrast, ADA /USD will be forced to trade in a range between the moving average lines if it fails to move above them. Cardano could fall to a low of $0.37 after a few days of sideways movement.
Cardano Indikator Analyse
Cardano is at level 48 on the Relative Strength Index for the 14 period due to the recent decline. There is a possibility of sideways movement between the moving average lines as the price bars are between them. Cardano has fallen below the 20% area of the daily stochastic. This is a sign of bearish exhaustion.
technesch Indicateuren
Schlëssel Resistenz Zonen: $ 1.00, $ 1.20, $ 1.40
Schlëssel Ënnerstëtzung Zonen: $0.60, $0.40, $0.20
Wat ass den nächste Wee fir Cardano?
Cardano has fallen below the moving average lines on the 4-hour chart. At the time of writing, the price of ADA has fallen to a record low of $0.39. During the price drop on October 31, ADA turned up and a candlestick tested the 50% Fibonacci retracement level. The correction predicts that ADA will fall to the Fibonacci extension level 2.0 or $0.37.
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Source: https://coinidol.com/cardano-0-37-low/