Cardano (ADA)Crypto News

Cardano crashes 10% below a critical support, where’s the bottom? (ADA price analysis)

                                                            <strong>Wichtige Unterstützungsniveaus: 0,58 $ </strong>

Key resistance levels: $0.75

Another difficult day is developing for ADA-Owner since the sellers don’t take a break. The critical support at $0.75 has now turned into a Resistance transformed after the bulls failed to defend this key level, with prices falling over 10% in the last 24 hours.

The next level of support is $0.58 and ADA is looking very weak at the time of this post.
Cardano crashes 10% below a critical support, where&#8217;s the bottom?  (ADA price analysis), Crypto Trading NewsChart from TradingView

Technical indicators

Trading volume: Volume is increasing and this is the fifth red daily candle for ADA. This confirms strong ongoing bearish momentum.

RSI: The daily RSI is one point away from entering the oversold territory below 30 points.

MACD: The daily MACD remains firmly on the bearish side, with the histogram expanding lower as selling volume increases.
Cardano crashes 10% below a critical support, where&#8217;s the bottom?  (ADA price analysis), Crypto Trading NewsChart from TradingView

bias

The trend for ADA is bearish.

Short term prediction for ADA price

ADA has entered a very difficult phase of the bear market. Existing support levels up to 40 cents are weak and not giving much confidence for a trend reversal. Losing the $0.75 level is a major defeat as the sellers continue to prevail.

Source: Crypto News Deutsch

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