Cardano tried to rally last week, but the bears took over over the weekend.
Main levels of support: $0.30
Key Resistance Levels: $0.35, $0.38
With sellers on the offensive, ADA finds itself in a downtrend after failing to breach key resistance at 38 cents. Today, the bears managed to push the price below $0.35, which could pave the way for this cryptocurrency to fall all the way to $0.30, where key support awaits.
Trading volume: Volume has declined, but the bears continue to dominate the price action.
IRS: The daily RSI fell below 50 points today, which is a negative signal.
MACD: The daily MACD histogram is making lower highs and could make a bearish cross later this week if the momentum continues to favor the sellers.
Bias
The bias for ADA is bearish.
Short term prediction for ADA price
With the uptrend lost, buyers are on the defensive. The best chance to reverse this bearish momentum is to recover the level at 35 cents. Otherwise, the bulls will be more likely to pull back to the 30 cent support where they have been successful in the past.
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