Cardano

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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/ada-price-analysis-incoming-supply-warns-a-crash-in-cardano/">ADA Price Analysis: Incoming Supply Warns A Crash in Cardano!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Following a bearish pathway, the ADA price trades continue forming lower high formations in the 1-day chart. The downtrend brings <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" rel="noopener noreferrer nofollow">Cardano price</a> under the 50-day EMA line, leading to a resistance trendline formation.&nbsp; 
Currently, the ADA price shows a bullish failure to breach the overhead trendline to reclaim trend momentum.&nbsp; 
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Cardano is currently trading in a sideways trend between $0.265 and $0.235 zones. Moreover, the recent bearish turn within the channel declined the ADA price by 4% within two days. This indicates a stronger bearish presence that may soon challenge the bottom support zone. 
Parallel to the downtrend, the possibility of a double bottom pattern forming at the support zone arises. However, the buyers must actively absorb the incoming supply to bounce back the Cardano price higher to challenge the overhead trendline.&nbsp; 
Technical indicators: 
Reflecting the underlying bearish sentiments, momentum indicators display ADA price on a razor-sharp edge. 
MACD indicator: With the MACD and signal lines ready for a bearish crossover, the indicator projects a downfall rally.&nbsp; 
RSI indicator: Despite the pullback, the RSI line maintains an uptrend and continues to display a bullish divergence.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ada-price-sustain-above-0-235">Will ADA Price Sustain Above $0.235?</h2> 
With bears taking over the short-term trend, the possibility of a downtrend below the consolidation range is increasing. Moreover, Bitcoin falling by more than 1% warns of a market-wide correction.&nbsp; 
In case the ADA price falls below $0.235, the market value can plunge to as low as $0.20. 
Conversely, a bullish reversal from $0.235 could once again test the resistance trend line, resulting in a 10% price increase to $0.25.

ADA Price Analysis: Incoming Supply Warns A Crash in Cardano!

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