Cardano got no relief as support at 35 cents was broken lower. With the buyers out, the price has only one direction at the moment.
Main levels of support: $0.30
Key Resistance Levels: $0.35
ADA is rapidly approaching key support at 30 cents. The bears have full control of the price action, which has remained bearish since mid-February. The current resistance is at 35 cents, and it will likely not be tested until the cryptocurrency finds support.
Trading volume: The constant selling volume drove the price down almost daily. Buyers cannot be found at the moment.
IRS: The daily RSI is at 34 points and could soon reach the oversold zone at less than 30 points.
MACD: The daily MACD remains bearish, with the moving averages continuing to decline. There is no sign of a possible reversal yet.
Bias
The bias for ADA is bearish.
Short term prediction for ADA price
The current price action remains bearish, and it is important to see how the market will move in the coming week after a few important macro events.
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