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- Cardano price prediction suggests the token’s fall through a descending parallel channel over the daily price chart.
- ADA crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of ADA/BTC is at 0.00001915 BTC with an intraday gain of 0.12%.
Cardano price prediction suggests the token’s falling momentum through a descending parallel channel over the daily chart. ADA crypto needs to attract more buyers in order to surge back towards the upper level. However, the token has been going through an interesting roller coaster ride over the daily chart. ADA investors need to wait until the token gains support from the lower level of the channel. ADA coin price must surge back towards the upper trendline of the parallel channel. Meanwhile, the ongoing bear market has affected the token’s momentum a lot as ADA has been experiencing bearish pressure due to more selloffs.
Cardano price is presently approximated at $0.31738 and has gained 5.21% of its market capitalization in the last 24-hour period. However, trading volume has decreased by 2.56% during the intraday trading session. This demonstrates that sellers are approaching to pull the token towards the lower trendline of the parallel channel.
Cardano price prediction suggests the downtrend momentum of ADA crypto over the daily price chart. ADA crypto must escape this falling pattern to avoid declining significantly below the parallel channel. ADA coin price needs to attract as suggested by volume change which is below average and needs to grow for ADA to surge towards the upper trendline.
Will ADA Crypto Surge Towards Upper Trendline?
Cardano price needs to surge towards the upper trendline of the descending parallel channel. Technical indicators suggest that ADA is about to experience a push as MACD is about to have a positive crossover.
Relative Strength Index showcases the uptrend momentum of ADA crypto. RSI is at 39 and is heading towards neutrality. MACD exhibits the uptrend momentum of ADA coin. The MACD line is about to cross the signal line upwards, registering a positive crossover.
Conclusion
Cardano price prediction suggests the token’s falling momentum through a descending parallel channel over the daily chart. ADA crypto needs to attract more buyers in order to surge back towards the upper level. However, the token has been going through an interesting roller coaster ride over the daily chart. ADA investors need to wait until the token gains support from the lower level of the channel. ADA coin price must surge back towards the upper trendline of the parallel channel. ADA coin price needs to attract as suggested by volume change which is below average and needs to grow for ADA to surge towards the upper trendline. Technical indicators suggest that ADA is about to experience a push as MACD is about to have a positive crossover.
Technical Levels
Support Level: $0.30 and $0.28
Resistance Level $0.34 and $0.40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
