Cardano

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The prices of most of the coins are facing a correction after a sharp price blast, according to <a href="https://u.today/xrp-price-prediction-for-may-21" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="3251efcc-533b-43bc-9aec-ed287a2363d1" src="https://u.today/sites/default/files/inline-images/top10_1130.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="ada-usd">ADA/USD</h2>
The rate of Cardano (ADA) has declined by 4.79% over the last day. <img data-entity-type="file" data-entity-uuid="fb7ee1e5-72c8-4b1f-a155-c00bedcc26fc" src="https://u.today/sites/default/files/inline-images/ada_273.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of ADA might have set a local support level of $0.4746. However, there are low chances to expect any sharp moves by the end of the day, as most of the ATR has been passed.&nbsp;
In this case, sideways trading around the $0.48 mark is the most likely scenario. <img data-entity-type="file" data-entity-uuid="8739f74d-a8ed-4bd2-841a-e8d22c180226" src="https://u.today/sites/default/files/inline-images/ada2_112.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the fall continues after yesterday's bearish closure. At the moment, there are no reversal signals yet, which means the drop may lead to the test of $0.46 shortly. <img data-entity-type="file" data-entity-uuid="d5b1d038-0b62-45c8-99ee-d14b721765f9" src="https://u.today/sites/default/files/inline-images/ada3_98.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, the price of ADA has bounced off the $0.50 zone. However, buyers still have time until the end of the week to seize the initiative. If they manage to do that, growth may continue to the resistance of $0.5225.
ADA is trading at $0.48 at press time.

Cardano (ADA) Price Prediction for May 22

Table of Contents

U_Today

Other articles published on May 22, 2024

Investors Await SEC Decision on Spot Ethereum ETF

This Undervalued DePIN Altcoin Will Shock Crypto Markets

Cardano's 'centralization' concerns put a 30% ADA price crash in play

Two Ethereum-Based Altcoins Witnessing Abrupt Surge in Whale Activity Amid Marketwide Bounce: San...

Polkadot (DOT) and Dogeverse (DOGVERSE) Investors Embrace MoonBag Coin, Anticipating Exponential ROI

WeatherXM Secures $7.7M Series A Funding Led by Lightspeed Faction

Join our free newsletter for daily crypto updates!