Momentum Shifts Bearish
The momentum in Cardano’s price has turned bearish as buyers were unable to push it higher. It is now crucial for bulls to defend the key support level at $0.38.
Volume Declines
As the uptrend was lost, buying pressure declined, and sellers have taken control of the price action. The resistance at $0.41 has proven to be strong, rejecting all attempts by Cardano to break through.
Bearish MACD
The daily MACD has been falling in recent days, indicating intensified bearish momentum. If there are no changes, ADA could potentially drop to $0.35.
Bias
The bias for ADA is currently bearish.
Short-Term Prediction for ADA Price
Given the bearish control over the price, ADA is at a critical support level. If $0.38 is breached, it is likely that buyers will retreat to $0.35.
Hot Take: Cardano Faces Resistance and Bearish Momentum
Cardano’s price has encountered resistance at $0.41 and is facing increasing bearish momentum. With declining volume and a bearish MACD, the bias for ADA is currently bearish. The short-term prediction suggests that if the key support level at $0.38 is broken, buyers will likely retreat to $0.35 next.
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