Cardano

<p><a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc=1">Cardano price </a>analysis shows negative market sentiment as bearish activity is seen in the crypto market. The ADA/USD pair has been trading within a range, between $0.4403 and $0.4507, for the past few days. The cryptocurrency has seen a bearish divergence between its price and, which is a sign of further downside pressure in the near term. The bearish trend is being supported by high selling pressure and low buying volume as more sellers enter the market. The price has declined below the resistance level of $0.4541 and is now trading at $0.4403, which suggests further downside in the near term. The next major support level for the ADA/USD pair is at $0.4392, which could be tested if the bearish pressure continues. </p>



<h2 id="cardano-price-analysis-1-day-chart-ada-is-headed-for-a-0-4403-low-following-a-bearish-drive">Cardano price analysis 1-day chart: ADA is headed for a $0.4403 low following a bearish drive.</h2>



<p>The 24-hour Cardano price analysis indicates that the market sentiment is bearish. The bearish trend is strong, and if the bearish trend continues further, the next level of support may be seen at $0.4392. The current level of resistance for ADA is present at $0.4541, and a break above this level can shift the price action toward $0.4410, which can be considered a strong resistance level if bullish sentiment takes over.</p>



<figure class="wp-block-image size-large"><img width="1200" height="555" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-1200x555.png" alt="image 317" class="wp-image-291258" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-1200x555.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-300x139.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-768x355.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-24x11.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-36x17.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-48x22.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317-150x69.png 150w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-317.png 1362w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>ADA/USD 1-day price chart, Source: <a href="https://www.tradingview.com/chart/7guzDxO8/?symbol=BINANCE%3AADAUSD" target="_blank" rel="noopener">TradingView</a></figcaption></figure>



<p>The ADA/USD pair has been trading below the 50-day moving average, which indicates that sellers are dominating the market. Moreover, the moving average convergence and divergence (MACD)  is trading below the zero line and is showing a bearish crossover, indicating more selling pressure in the near term. The relative strength index (RSI) is currently at 68.82, which indicates that the trend is bearish and more selling pressure is expected.</p>



<h2 id="ada-usd-4-hour-price-chart-recent-updates">ADA/USD 4-hour price chart: Recent updates</h2>



<p>Looking at the 4-hour price chart for Cardano displays a downward trend. The prices have been trading below the 2.48 percent Fibonacci retracement level of $0.4403, which is a sign of bearishness in the near term. The market capitalization for Cardano currently stands at $15.13 billion, with a decrease of 2.65% in the last 24 hours. The 24-hour trading volume is over $415 million and has seen a decrease of 26%, indicating that the sell-off has intensified. </p>



<figure class="wp-block-image size-large"><img loading="lazy" width="1200" height="571" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-1200x571.png" alt="image 318" class="wp-image-291262" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-1200x571.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-300x143.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-768x365.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-24x11.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-36x17.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-48x23.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318-150x71.png 150w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-318.png 1347w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>ADA/USD 4-hour price chart, Source:<a href="https://www.tradingview.com/chart/7guzDxO8/?symbol=BINANCE%3AADAUSD" target="_blank" rel="noopener"> TradingView</a></figcaption></figure>



<p>The moving average convergence and divergence (MACD) has declined into the bearish zone and is showing a bearish crossover, which indicates that sellers are dominating the market. The relative strength index (RSI) is currently at 54.47, indicating that the trend is bearish and more selling pressure can be expected in the near term. The moving average is currently trending downward, suggesting that the bearish trend is likely to remain in place.</p>



<h2 id="cardano-price-analysis-conclusion">Cardano price analysis conclusion</h2>



<p>Overall, the Cardano price analysis suggests that a further downside is possible in the near term as bearish activity continues to dominate the market. The next major support level for ADA is at $0.4392, which could be tested if the bearish pressure continues. Short-term traders should remain cautious, as any further downside can lead to more losses in the near term.</p>

Cardano price analysis: ADA price drops to $0.4403, as bears regain control

Tabla de contenidos

Cryptopolitan_News

Otros artículos publicados el 17 abr 2023

The Role of Testnets in Qtum's Evolution and Success

Over 1 Million ETH Withdrawn Since Shanghai Hard Fork Went Live

Potential Altcoin Rally if ETH Continues Showing Strength, Says Trader

Alphabet Down 3% in Premarket After Reports of Samsung Ditching Google for Bing

Hundred Finance loses $7 million in Optimism hack

Introducing Shibarium: The Next-Generation Blockchain Ecosystem

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!