Cardano

Bitcoin

<img decoding="async" width="1280" height="720" src="https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag.png" class="attachment-full size-full wp-post-image" alt="Cardano price" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag.png 1280w, https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag-300x169.png 300w, https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag-1224x689.png 1224w, https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag-768x432.png 768w, https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag-678x381.png 678w, https://coingape.com/wp-content/uploads/2024/04/cardano-blockdag-150x84.png 150w" sizes="(max-width: 1280px) 100vw, 1280px">
Cardano Price Prediction: ADA, the native cryptocurrency of the <a href="https://coingape.com/cardano-news-charles-hoskinson-explains-why-trump-is-better-than-biden-for-crypto/">Cardano</a> ecosystem, has found suitable support at $0.426 in the daily time frame. The coin price rebounded several from this support within a month hints the buyers are actively defending this level which can develop a local bottom. However, the broader market is still uncertain, and the ADA price witnessed a constant overhead supply pressure to extend the current correction trend. 
Also Read: <a href="https://coingape.com/cardano-founder-charles-hoskinson-reveals-why-crypto-matters-in-choosing-next-us-president/">Cardano Founder Charles Hoskinson Reveals Why Crypto Matters In Choosing Next US President</a> 
<h2 id="cardano-price-prediction-key-levels-to-watch-in-may-span-style-font-weight-400-span">Cardano Price Prediction: Key Levels to Watch in May&nbsp;</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/c/cUKIxOKe.png" alt="BINANCE:ADAUSDT Chart " width="1815" height="792">
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 Cardano Price Prediction| Tradingview
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The <a href="https://coingape.com/price/cardano/">Cardano price</a> has been under a correction trend for the past two months now. The bearish walk tumbled the altcoin from $0.81 to $0.426 support, registering a loss of $47.5. With the $0.426 floor heavily guarded by buyers, the ADA coin has recently changed its price trajectory sideways. 
<blockquote>
 With <a href="https://coingape.com/bitcoin-btc-price-drop-to-51970-coming-if-it-fails-to-reclaim-this-level/">Bitcoin</a> hovering above $60000, most of the major altcoins, including Cardano have showcased heightened volatility. The ADA price for over two weeks has been consolidated within a narrow range of $0.476 and $0.42.
</blockquote> 
An analysis of the daily chart shows the 20 EMA slope has acted as a dynamic resistance for crypto buyers. Since late March every bullish bounce in <a href="https://coingape.com/cardano-ada-whale-transaction-jumps-6-as-bulls-eyes-0-5-retest/">ADA price</a> witnessed heavy supply pressure at this EMA. 
Currently, the Cardano coin trades at $0.44 showcasing an intraday gain of 1.4%. If the renewed recovery extends another 3.5%, the coin buyers will again face the 20-day EMA at $0.46. This overhead supply and recent death (Bearish) crossover between the 50-and-200-day will bolster sellers to breach the bottom support. 
A successful breakdown below the $0.426 support will lead the correction trend to $0.4, followed by $0.37. 
<h2 id="b-technical-indicator-b">Technical Indicator:</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The higher low formation in the daily <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> slope as the ADA price hovers above $0.426 indicates the increasing buying pressure at this slope.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A possible breakout from the 20-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> slope will be an early sign of trend reversal.</li> 
</ul> 
The post <a href="https://coingape.com/markets/cardano-price-prediction-crossover-key-emas-to-fall-below-0-4/">Cardano Price Prediction: Death Crossover Among Key EMAs Points to Fall Below $0.4</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Cardano Price Prediction: Death Crossover Among Key EMAs Points to Fall Below $0.4

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