ADA coin returned to the critical support level at $0.45. Where buyers have to show strength once more or risk a costly defeat.
Main levels of support: $0.45, $0.38
Key resistance levels: $0.50, $0.55, $0.66.
test ADA price is now the major support at $0.45 six times, and a breakdown becomes more likely. Each time this happens, every time the price tests a key level, the chance of it breaking increases.
If it fails, the coin will find support at $0.38. The $0.50 resistance held firmly, and the bulls had no momentum to break it.
Technical Indicators
Trading volume: Volume continues to decline. This shows weakness, and buyers seem to be suffering at this time.
RSI The daily RSI failed to move above 50 points and is declining. If it hits a low, the price is likely to drop below $0.45 as well.
MACD indicator: The daily MACD remains bullish, but the histogram is declining. A bearish cross is likely if key support falls.
prejudice
ADA bias is neutral.
ADA Cardano Short Term Price Prediction
As long as the buyers manage to hold the ADA at $0.45, the bias remains neutral as the price is stuck in a stable direction.
A break below this key level will turn the bias bearish, and a test of $0.38 becomes more likely. The bears prefer the current momentum, but they need to break a major support to confirm that.
Source: CryptoPotato
