Convergence

Rally

Cardano

Divergence

The post <a href="https://coinpedia.org/price-analysis/altcoin-rally-fading-away-will-bulls-hold-the-ada-price-above-its-crucial-level/" rel="noopener noreferrer nofollow">Altcoin Rally Fading Away! Will Bulls Hold The ADA Price Above Its Crucial Level?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Top altcoins continue to record significant price volatility over the past week, highlighting a mixed sentiment in the market. Further, ADA price has lost over 3% within 24 hours and 13% during the past week, indicating a bearish influence in the crypto space.
The <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" rel="noopener noreferrer nofollow">ADA coin price</a> traded in a closed range between $0.5817 and $0.6273 for about a week, following which the bulls lost momentum and the altcoin broke down its support level. After this, the price traded sideways for a short period and displayed another drop of over 20% in valuation during the next six days.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/SlLX0FkgAigHxScOyK58irJX2LBOfUO_5lbcnmcxbrDGfPvlhpBvZhk5fOSzljAUONZhCR7odNOc0V4SIQhU7iUJNdgoFoKzXruP1drEmM8Li_sf9nxRuMFSxiK4bsURPA1WoyOOfxWUnnAi0S1ApEo" alt="ADA Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ADA/USDT
 </figcaption>
</figure>
After testing its low of $0.4610, the bulls gained enough momentum to break out of the resistance level, but faced restriction at $0.5438, following which the price traded within the range for a while.
As the market regained momentum, the ADA coin jumped over 25% in valuation. After facing rejection at $0.6273, the ADA price traded in a closed range between $0.5001 and $0.5438 for a brief period.
Recently, the token faced another bearish move, resulting in it breaking down its support level of $0.5001. Currently, the ADA coin price is testing its crucial support level of $0.4610, of which the outcome is unpredictable.&nbsp;
<h2 class="wp-block-heading" id="h-will-ada-go-up">Will ADA Go Up?</h2>
The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram, indicating a rise in the bullish influence in the market. Further, the averages show a high possibility of a bullish convergence, suggesting the price will experience massive price action soon.
If the bulls hold the price above the support level of $0.4610, the ADA price will test its resistance level of $0.5001. Maintaining the price at that level will set the stage for the CardanoADA price to attempt to test its upper resistance level of $0.5438.
Conversely, if the market loses momentum, the Cardano price will fall and test its support level of $0.4162 soon. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.3792 in the coming time.

Altcoin Rally Fading Away! Will Bulls Hold The ADA Price Above Its Crucial Level?

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