Cardano

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Cardano price analysis continues to show a downtrend in place, as price dipped around 2 percent over the past 24 hours to move down to $0.3950. While a high of $0.4157 was also achieved, ADA can be continually seen showing high volatility over the current trend. Price has been in continual decline since April 15, from a high of $0.46. Since then, the token has either trended downwards or sideways. ADA trading volume was up more than 40 percent over the past 24 hours, contributing to the added volatility for the token in the market. 



The larger cryptocurrency market also stayed in the red zone across the board, with <a href="https://www.cryptopolitan.com/bitcoin-price-forecast/?swcfpc=1">Bitcoin</a> dropping to $29,400, and <a href="https://www.cryptopolitan.com/ethereum-price-prediction/?swcfpc=1">Ethereum</a> continuing below the $2,000 mark. Among leading Altcoins, <a href="https://www.cryptopolitan.com/xrp-price-prediction/?swcfpc=1">Ripple</a> declined to $0.47 with a 2 percent downtrend, with Dogecoin and Polkadot also dropping 2 percent each to $0.08 and $5.93, respectively.



<figure class="wp-block-image size-large"><img width="1200" height="484" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-1200x484.png" alt="Screenshot 2023 04 30 at 11.46.14 PM" class="wp-image-297422" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-1200x484.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-300x121.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-768x310.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-1536x619.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-2048x826.png 2048w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-24x10.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-36x15.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-48x19.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/Screenshot-2023-04-30-at-11.46.14-PM-150x60.png 150w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Cardano price analysis: Cryptocurrency heat map. Source: <a href="https://coin360.com/" rel="nofollow noopener" target="_blank">Coin360</a></figcaption></figure>



<h2 id="cardano-price-analysis-negative-technical-indicators-suggest-downtrend-to-continue">Cardano price analysis: Negative technical indicators suggest downtrend to continue</h2>



On the 24-hour candlestick chart for Cardano price analysis, price can be seen forming a newly found descending triangle pattern around the $0.40 mark. With support at $0.38, price has been seen hovering with great volatility around this point. Today&#8217;s trend took price just above the 50-day exponential moving average (EMA) at $0.4015, while price still remains below the 9 and 21-day moving averages. 



<figure class="wp-block-image size-large"><img loading="lazy" width="1200" height="813" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-1200x813.png" alt="ADAUSDT 2023 04 30 23 55 45" class="wp-image-297423" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-1200x813.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-300x203.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-768x520.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-24x16.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-36x24.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-48x33.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45-150x102.png 150w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/ADAUSDT_2023-04-30_23-55-45.png 1530w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>Cardano price analysis: 24-hour chart. Source: <a href="https://coinmarketcap.com/currencies/cardano/" rel="nofollow noopener" target="_blank">Trading View</a></figcaption></figure>



The 24-hour relative strength index (RSI) took a slight dip to move down to 49, showing decreasing market valuation for ADA as the downward trend picks up strength. Meanwhile, the moving average convergence divergence (MACD) curve also shows a bearish divergence in place with the trend line continuing below the signal line. 



Disclaimer. The information provided is not trading advice. <a href="http://cryptopolitan.com/" target="_blank" rel="noreferrer noopener">Cryptopolitan.com</a> holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Cardano price analysis: ADA continues to show high volatility as price dips below $0.40

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