Convergence

Cardano

Test

Divergence

The post <a href="https://coinpedia.org/price-analysis/cardano-price-back-at-0-64-ada-price-to-test-its-low-of-0-54/">Cardano Price Back At $0.64! ADA Price To Test Its Low Of $0.54?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry has displayed a negative trading day after recording a significant uptrend from the past two days, with top tokens recording a minor correction in their respective portfolio. On the other hand, the <a href="https://markets.coinpedia.org/cardano/">Cardano price</a> constantly records a negative trend, sparking investor’s attention toward it. 
The <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">ADA coin price</a> displayed a neutral trend by trading in a closed range between $0.576 and $0.636 for over a week. Following this, the bulls gained momentum, and the Cardano token jumped 40.38% over the next seven days, after which it faced rejection at the resistance level of $0.796. 
The ADA token then recorded a correction of over 19%, indicating a trend reversal in the industry. After testing its low of $0.636, the bulls regained momentum and successfully broke out of the resistance level, where the price traded sideways for a period. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/X9R6tvhKey3znUyO4-spSsbTyWjghAcprq1yqCYbQYi6EltAscvuCW1tMfu58mGaEiQqwhxhJV-s9YYqDHGEtwom6ADQB-qhKI7ADqn6GV4TjnXA4otkW5X5nAHODTr6eY0eD4-tJB5HE55R-id1vm4" alt="ADA Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ADA/USDT
 </figcaption>
</figure> 
After facing repeated rejection at the resistance level of $0.796, the bulls lost momentum and lost 28.75% in value. Since then, the price has been displaying a neutral trend. Negatively, the Cross EMA 50/200-day displays a Death Cross, indicating a negative price action in the coming time. 
The Moving Average Convergence Divergence (MACD) shows a constant decline in the green histogram, highlighting weak buying and selling pressure for the altcoin in the market. On the other hand, the averages display a constant rise, suggesting a mixed sentiment in the crypto space. 
Also Read: <a href="https://coinpedia.org/price-analysis/cardano-and-chainlink-prices-set-to-surge-amid-github-activity/">Cardano and Chainlink Prices Set To Surge Amid GitHub Activity</a> 
<h2 class="wp-block-heading" id="h-will-ada-price-go-up">Will ADA Price Go Up?</h2> 
If the market pushes the price above the resistance level of $0.636, the Cardano bulls will gain power and run to test its upper level of $0.697. Maintaining the price at that level will set the stage for the ADA coin price to attempt to test its upper resistance of $0.747 during the upcoming week. 
Conversely, if the bulls fail to regain momentum, the Cardano price will start trading under a bearish influence and test its support level of $0.5765. Moreover, if the bears continue to dominate the market, it will plunge and test its lower support level of $0.54 in the coming time. 
Also Check Out The: <a href="https://coinpedia.org/price-analysis/solanas-tvl-volume-explodes-heres-why-sol-price-rally-may-hit-500-squashing-the-bearish-pressure/">Solana’s TVL &amp; Volume Explodes: Here’s Why SOL Price Rally May Hit $500, Squashing the Bearish Pressure</a>

Cardano Price Back At $0.64! ADA Price To Test Its Low Of $0.54?

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