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The Cardano price prediction reveals that ADA may find a halt at $0.45 as the price is down by 3.42% over the last 24 hours.
Key Levels:
Resistance levels: $0.60, $0.65, $0.70
Support levels: $0.40, $0.35, $0.30
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ADA/USD price is sliding towards the 9-day and 21-day moving averages, and the coin may drop further lower to find support at the $0.45 level. Therefore, if the bears continue to push the market further lower, immediate support below the $0.40 level may be located. Beneath this, further supports may be found at $0.40, $0.35, and $0.30.
According to the daily chart, if the buyers can hold the support at $0.48, the Cardano price may begin to climb higher, and bulls could expect immediate resistance to be located above the 9-day and 21-day moving averages, which is not too close to the upper boundary of the channel.
However, crossing above the upper boundary of the channel may locate the higher resistance levels at $0.60, $0.65, and $0.70. Meanwhile, the technical indicator Relative Strength Index (14) is likely to move below the 50-level, which shows that the market price may drop more.
Against Bitcoin, the Cardano price is moving to the downside within the channel, but the price is expected to cross above the upper boundary of the channel. Therefore, should the price head to the downside, the market could hit the support level at 2300 SAT and below.
However, if the bulls manage to push the market towards the north, it may cross above the channel. If successful, ADA price may hit the resistance level of 2800 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the sellers as the signal line nosedives to the south.
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Original Source: https://insidebitcoins.com/news/ada-drops-below-0-50-the-sky-is-the-beginning-for-tam…
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