• ADA is quickly approaching the key support at 30 cents
• Bears have total control of the price action, which has remained bearish since mid-February
• Buyers are nowhere to be seen at this time
ADA Price Analysis
Cardano (ADA) had no relief since the support at 35 cents was broken to the downside. With buyers absent, the price has only one direction at the moment. The bias for ADA is bearish and it’s important to see how the market will develop in the coming week following a few important macroeconomic events.
Key Support Levels
The current resistance is at 35 cents, and it will likely not be tested until the cryptocurrency finds support. The key support level for ADA is $0.30.
The steady sell volume has pushed the price lower almost daily. Buyers are nowhere to be seen at this time.
RSI & MACD Indicators
The daily RSI is at 34 points and may soon reach the oversold area at under 30 points. The daily MACD remains bearish, with the moving averages continuing to fall; there is no sign of a possible reversal yet.
The current price action remains bearish, and it’s important to see how the market will develop in the coming week following a few important macroeconomic events.