- The price has declined up to $2.254.
- Cardano price analysis shows bearish comeback.
- Support is found at $2.02 for ADA/USD.
The price is facing bearish resistance once again after the bears returned to the price charts. The price has receded back to the $2.254 level during the last 24-hours and it is expected that it will go through further decline. There have been constant ups and downs in the price movements since the past week, and today the bears are again maintaining the lead. The chances are getting dim for the bulls to find recovery.
ADA/USD 1-day price chart: Drop in price recorded as bears attempt for lead
The bears are striving to make a comeback, and have brought down the price down to the $2.25 level today. The upward trend is being constantly interrupted by bearish strikes, and today the price has gone down once again. A further shift in trends can be expected in the upcoming week as the price has been constantly fluctuating. The moving average indicator (MA) in the one-day price chart is showing its value at $2.241.
The volatility has decreased during the last 24-hours which means that a bullish comeback can be expected in the coming weeks. Other important indicators include the Bollinger bands indicator whose upper value is settled at $2.388 and the lower value at $2.02. The Relative Strength Index (RSI) score is almost neutral at 49.21.
Cardano price analysis: Cryptocurrency sustains damage as price suppresses up to $2.25
The 4-hour price chart for Cardano price analysis shows the price is going down once again after the bears managed to secure grounds on the Candlestick chart. The short-term trending line in the four hours price chart is also going down, indicating that a downtrend has been following. Further decline in the upcoming hours is to be expected and the price might go lower than its current level i.e. $2.254. The moving average is at a relatively stable position as it is standing at $2.263.
The SMA 50 curve is crossing over SMA 20, confirming a major bearish swing in price movement. The volatility has decreased significantly, and now the upper Bollinger band value is at $2.307 while the lower one is at $2.233. The RSI score has declined in the last 4-hours to 50.3 as well.
The technical indicators chart for the day is indicating a bullish signal as from the overall view, improvement in price has been detected. There are 12 indicators sitting on the buying position, eight indicators on the neutral position, and six indicators on the selling position.
The moving averages indicator is displaying favorable results for the bulls as well. There are 10 indicators standing on the buying mark, with only four indicators on the selling and one on the neutral marks. The Oscillators are going neutral for the day as there are seven indicators on the neutral level, while two indicators each are present on the selling and buying levels.
Cardano price analysis conclusion
The price has undergone a reduction in the last 24-hours as it has been confirmed from the 1-day and 4-hours Cardano price analysis. The bears are struggling to maintain their upper position on the price charts, and have taken the price down to the $2.254 level. Further decrease in the coin value is highly possible in the coming hours, as the hourly prediction is favoring the bearish trend.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.