• Cardano failed to move higher and momentum is now shifting towards sellers.
• Key Support levels $0.36, $0.32 and Key Resistance levels: $0.40, $0.44
• Bears may control the price action until the first level of support at 36 cents, where buyers could return to reverse the downtrend.
Cardano’s Bullish Momentum Stalls
Cardano failed to move higher and momentum has shifted towards sellers, with key support levels at $0.36 and $0.32 and resistance levels at $0.40 and 0.44 respectively.
Indicators Turning Bearish
The volume is making lower highs which signals that buyers are exhausted, while the RSI is falling towards 50 points and MACD has turned bearish with the histogram making lower lows, indicating that sellers have the upper hand in controlling the price action for now.
Bias Leaning Bearish
The bias for ADA is leaning bearish as a correction from its current position appears likely in the coming days as bears may control the price action until it reaches its first support level of 36 cents where buyers could return to reverse the downtrend.
Short-Term Predictions for ADA Price
Cardano appears to have found a local top at 40 cents, and a correction from this point appears likely as bears may control the price action until it reaches its first support level of 36 cents where buyers could return to reverse the downtrend.
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