The Cardano price prediction is down by 2.48% over the last 24 hours. The next support of the coin may likely come at the $2.0 level.
ADA/USD Market
Key Levels:
Resistance levels: $2.5, $2.6, $2.7
Support levels: $1.85, $1.75, $1.65
ADA/USD is falling beneath the long-term support at $2.78, which is now subjected to the price actions below the 9-day and 21-day moving averages over the past few days of trading. As the bears take charge, the coin may lose momentum to the lower side of the channel along with a potential price surge. Meanwhile, the technical indicator Relative Strength Index (14) on the daily chart is bearish and continues to issue sell signals as the signal line moves into the oversold region.
Cardano Price Prediction: ADA/USD May Drop More
At the time of writing, if the Cardano price decides to stay under the control of bears, it may likely drop to the nearest supports at $0.52, $0.42, and $0.32. On the upside, the bulls need to push the market price above the 9-day and 21-day moving averages to reach the potential resistance levels of $1.10, $1.20, and $1.30.
When compared with Bitcoin, the Cardano market is seen heading to the downside where the coin is expected to break below the lower boundary of the channel. Therefore, should the price cross below the channel, the market may experience more downtrends that could touch the nearest support level of 1700 SAT and below.
On the contrary, if the bulls could step back into the market and push the coin above the 9-day and 21-day moving averages, it may cross above the upper boundary of the channel to gain move uptrends. If successful, the ADA price may reach the resistance level of 2400 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the sellers as the signal line slides into the oversold region to increase the bearish movement.
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