Cardano Price Analysis: ADA May Slip Below $1.07

  • Cardano slips below $1.13 to $1.07 on Sunday’s trading session
  • The 24-hour volume in ADA is at $5,226,192,187 with a 0.34% decrease.
  • The ADA/BTC pair was trading at 0.0000177 BTC with a loss of 6.0%
Source:ADA/USD on TradingView

The 4-hour technical chart of Cardano projects a downtrend. According to pivot points, ADA’s critical support level is placed at $1.07. Whereas if it moves up, the key resistance level to watch is $1.45. While diving into the weekly chart of a 4-hour time-frame, it completes a spinning top candlestick pattern. It means that neither buyers nor sellers could gain the upper hand.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) intersects below the SMA-100 (white), which projects a bearish trend. The price is now moving towards the SMA-200 (red). Investors may perceive a negative crossover in the chart, the price will also follow the negative trend.

RSI indicator (BEARISH), with a value of 42, indicates a sell signal in the coin. Moreover, Investors can see a downward slope from 56 to 42 in the index, it may drop more in future trading sessions.

A fun fact shared by Cardano’s community on twitter. A valuable information for investors to know.

Cardano Needs To Sustain Above $1.07  

Cardano price traded at $1.07 with a loss of 0.06% in the last 24-hour and 4.09% down in the weekly time-frame.Furthermore if Cardano sustains above the support of $1.07 Investors can see a bounceback from here or if it slips below the price may plunge. In contrast, the market capitalization stands at $34 billion. Technically, investors can perceive a negative crossover in SMA. Moreover, the movement of price can be towards the next support of $1.01.

Resistance: $1.45

Support: $1.01

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