Ethereum
$ 1,244.34 0.74%
Solana
$ 42.40 0.54%
Dogecoin
$ 0.068517 1.51%
ApeCoin
$ 4.51 0.25%
Bitcoin
$ 21,483.00 0.72%
BNB
$ 239.74 0.66%

Cardano price analysis: ADA price continues sinking at $0.459 after substantial damage

Cardano price analysis: ADA price continues sinking at $0.459 after substantial damage
TL;DR Breakdown
  • Cardano price analysis shows a bearish trend.
  • Support for ADA/USD is present at $0.419.
  • Resistance for ADA is present at $0.520.

The Cardano price analysis shows a considerable decline in the price levels. Bears have been dominating the market, and the price levels have been decreasing continuously since 25 May 2022; currently, the price has come down to $0.459. The past few hours have been critical for coin value as the bearish momentum has been huge and overpowering, and yet the cryptocurrency hasn’t found the support.

ADA/USD 1-day price chart: Bulls yet helpless to step in for support

The 1-day chart for Cardano price analysis shows cryptocurrency progress is in the negative direction. The bears have been successful enough to carry on their lead for the third day consecutively. The price is currently set at $0.459 after losing nearly 10 percent value during the last 24 hours, and as the momentum intensifies, it is much more likely to go even further lower. The moving average (MA) indicator is above the price level, i.e., at $0.511, as the bearish momentum has been considerable.

adausd 1 day price chart 2022 05 27
ADA/USD 1-day price chart. Source: TradingView

The volatility is also decreasing, which is a negative indication for the bulls, with the upper Bollinger band reaching $0.666 and the lower band reaching $0.419. The Relative Strength Index (RSI) score, on the other hand, is also falling critically as it is at index 32.

Cardano price analysis: Recent developments and further technical indications

The 4-hours price chart for Cardano price analysis shows extreme deterioration in price value after a huge loss in price in the past hours. The momentum has taken the price levels down to $0.459, which is the lowest of the past year. The moving average is $0.488, and the Bollinger bands display the following figures; the upper Bollinger band is present at $0.542 while the lower band is present at $0.465, respectively. The price has stooped low below the lower limit of the Bollinger bands, which is a strong bearish indication.

adausd 4 hour price chart 2022 05 27
ADA/USD 4-hours price chart. Source: TradingView

The trending line is going in favor of the bears, yet there is a strong chance of a further drop in price in the upcoming weeks. The RSI score is 25, which is very low and in bearish territory.

The overall trend is towards the bearish side, as the past week has seen a greater number of red candlesticks on the chart. The technical indicators show us that a total of 16 indicators are present on the selling side, nine at the neutral, and only one on the buying side.

Cardano price analysis conclusion

From the above 1-day and 4-hours Cardano price analysis, we can see that the bears are in dominating position and the bearish momentum is strong. The coin price levels have reached down to $0.459 low. The support level at $0.419 is still further below, so we expect ADA to continue downside for today,

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Polkadot price analysis: DOT price will break above the closest resistance level found at $ 9 over the weekend
Bitcoin price analysis: BTC slowly retests $21,500, ready to return lower?
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?
3 Innovative Coins Presenting Unique Income Opportunities

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users