Convergence

Cardano

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/cardano-price-dips-as-bearish-sentiment-intensifies-whats-next-for-ada/">Cardano Price Dips As Bearish Sentiment Intensifies! What’s Next For $ADA?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency industry has displayed a bearish start to the week by recording a loss of 2.48% within the past day in its global market cap. Further, the market leader, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">BTC price</a>, has lost 2.5%, dropping close to its important support level at $62,000.</p> 
<p>On the other hand, the ADA token continues to display a bearish price action, resulting in it hovering close to its crucial support level at $0.440. Moreover, the Cardano price has a Year-to-Date (YTD) of -23.69%, raising concerns about its future prospection among investors.</p> 
<h2 class="wp-block-heading" id="h-cardano-price-displays-mixed-sentiment">Cardano Price Displays Mixed Sentiment:</h2> 
<p>The <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">ADA coin price</a> continues to display a bearish sentiment by recording a correction of 3.84% within the past day and 10.91% over the past week. Following the market correction, the Cardano token has failed to regain momentum, resulting in its price struggling to surpass the $0.50 mark.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/gwdeUI-jTwK_Sy6lGw52HjiwpUl8lJmUrjjBEpcCT9iOKjiORgQ-Hkbi_rjdrBZLHFbA7EtDqKZrMUphHzRrxCtCUwr2NAeY5jnCEqFnUmlrtyiQGIxZ89PwBTnTxQg7vw4plWWZ2Nc4thWzgrNKloM" alt="ADA Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: ADA/USDT
 </figcaption>
</figure> 
<p>Moreover, the EMA 200-day acts as a resistance to the price chart, indicating a strong bearish point at that level in the crypto space. Further, the indicator shows a high possibility of a Death Cross in the 1D time frame, suggesting a bearish outlook for the <a href="https://markets.coinpedia.org/cardano/">Cardano token</a> this week.</p> 
<p>The Moving Average Convergence Divergence (MACD) displays a constant flatline in the chart, indicating weak buying and selling pressure for the altcoin in the market. Furthermore, the averages show a neutral trend, suggesting uncertainty in future price action.</p> 
<h2 class="wp-block-heading" id="h-will-ada-price-go-up">Will ADA Price Go Up?</h2> 
<p>If the bulls regain momentum, the ADA price will regain momentum and test its resistance level of $0.52 this week. Maintaining the price at that level will set the stage for the Cardano token to attempt to test its upper resistance level of $0.61 by the upcoming week.</p> 
<p>Conversely, if the bulls fail to regain momentum, the ADA coin price will fall to test its crucial support level of $0.440. Moreover, if the bears continue to dominate the market, it will plunge and fall to test its low of $0.40 this month.</p>

Cardano Price Dips As Bearish Sentiment Intensifies! What’s Next For $ADA?

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