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Cardano price analysis: ADA/USD continues consolidating as it struggles to retest $0.26

Cardano price analysis: ADA recovers at $0.455 after a sudden dip

TL;DR Breakdown

  • Today’s Cardano price analysis was bearish
  • The price of ADA/USD dipped to $0.256 after retracing to $0.269
  • It is expected to consolidate sideways for the next few hours
  • This may not be a good time to buy Cardano due to the high uncertainty in the market

Cardano price analysis was slightly bearish today. However, the volatility in the market still remained somewhat low. Two days ago, Cardano dipped to $0.256 after retracing to $0.269 and then retraced slightly again to its current levels. For now, it is getting ready to consolidate sideways as the market is lacking any volatility.

1-day Cardano price analysis
Cardano Price Chart by TradingView

The 1-day Cardano price analysis gives us an overview of the market. The MACD indicator is showing a decrease in the negative histograms. At the same time, the RSI is currently hovering near 30. This suggests that the market is slightly oversold and that it may be getting ready to recover in the next couple of hours. However, let’s not forget that there is no significant volatility in the market right now.

Hence, it would not be right to expect any sudden shift. Over the next couple of days, it is likely that Cardano will continue consolidating sideways and move within a range of $0.246 and $0.269.

Cardano 24-hour price movement

In the last 24-hours, Cardano dipped after retesting the local resistance at $0.26 and then found some support around the $0.256 mark. From here, it continued retracing upwards as a slow grind and is now gearing up to retest $0.26 again. Overall, the market is lacking any significant volatility.

4-hour Cardano price analysis: Is ADA/USD getting ready to dip lower?

4-hour Cardano price analysis
Cardano Price Chart by TradingView

The 4-hour Cardano price analysis shows us that while Cardano has remained slightly bullish the last three days, the MACD indicator is showing a decrease in the green histograms consistently. A crossover is just underway and hence, the market might shift toward the bearish side very soon.

At the same time, the RSI is currently touching 50. While this is not heavily overbought, combining this high level with the indications given by the MACD, we can say that ADA/USD might fall lower in the coming few hours.

Cardano price analysis: Conclusion

Cardano price analysis is lacking much volatility today. Although, the market has remained quite balanced, it was slightly on the bearish side. However, it is continuing to consolidate sideways for now. Due to the high level of uncertainty in the market, this may not be a good time to invest in Cardano. For more information, consider going through our in-depth Cardano price prediction guide.

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.

Shummas

Shummas

Shummas is a technology enthusiast and a researcher with a keen interest in blockchain and crypto. He also trades and invests in NFTs on the side, believing that NFTs will revolutionize many industries.

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