Cardano

Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>ADA price trading below the key moving averages on the daily time frame.</a> </li> 
 <li> <span>2</span> <a>Cardano is in the hands of the bears showcasing bearishness on the daily and weekly time frame.</a> </li> 
</ul> 
<p>The price action of the ADA crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average.&nbsp;</p> 
<p>Furthermore, the ADA showed a decline in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts.</p> 
<p>The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the ADA&nbsp; trades below the significant moving averages and tries to attain the 50-day EMA to start a recovery rally.</p> 
<p>At the time of writing, the ADA price is trading at $0.2517&nbsp; with an intraday gain of 1.74%, showing a bounce from the lower trendline near the support mark of $0.2348. Moreover, the intraday trading volume increased is $109.964 Million and the market cap is $11.322 Million.</p> 
<p>Crypto has had a poor performance over the years. Year-to-date it gave nominal returns of 2.44% and -43.28% in the span of 6 months. In the last 1 month, it gave a nominal return of 0.40% and a negative return of -1.87% in the last seven days. Indicating a Bearish momentum continuing till now.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-ada-crypto-price-in-1-d-timeframe-strong"><strong>Technical Analysis of ADA Crypto Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1272" height="577" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458.png" alt="ADA Price Forecast: Cardano Price In Bearish Hands; What Next?&nbsp;" class="wp-image-176265" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458.png 1272w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458-1024x465.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-458-1140x517.png 1140w" sizes="(max-width: 1272px) 100vw, 1272px">
  <figcaption class="wp-element-caption">
   Source: ADA.1D.USD by TradingView
  </figcaption>
 </figure>
</div> 
<p>At the time of publishing, ADA crypto price is trading below the 50 and 200-day EMAs (Exponential moving averages), which do not support the price trend.&nbsp;</p> 
<p>The current value of RSI is 49.28 points. The 14 SMA is above the median line at 48.76 points, indicating that the ADA crypto is bearish.</p> 
<p>The MACD line at -0.0016 and the signal line at -0.0010 are trading sideways. A bearish crossover is observed in the MACD indicator which signals more bearishness for the Cardano crypto price.</p> 
<h2 class="wp-block-heading" id="strong-4-hour-time-frame-technical-analysis-strong"><strong>4 Hour time frame Technical Analysis</strong></h2> 
<p>On the 4-hour charts, the <a href="https://www.thecoinrepublic.com/2023/09/26/snps-stock-forecast-is-500-achievable-for-nasdaq-snps/" target="_blank" rel="noreferrer noopener">ADA price</a> is stuck in a narrow range and does not signal an upcoming rise because of low volume levels. Moreover, a key indicator is still in the neutral range and does not signal bullishness.&nbsp;</p> 
<p>The RSI curve is near 64.39, in the neutral range, and showed a narrow consolidation move on the short-term charts. The MACD indicator still showed green bars on the histogram with a bullish crossover but did not signal any substantial upswing.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>ADA crypto technical oscillators also showcase the bearish trend. The MACD, RSI, and EMA highlight negative signs and imply that the downtrend may continue in the Cardano crypto price. ADA Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $0.2314 and $0.2093.</p> 
<p>Resistance Levels: $0.2717 and $0.3019</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

ADA Price Forecast: Cardano Price In Bearish Hands; What Next?

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