Cardano price analysis: ADA price hits $0.047

Cardano price analysis reveals that the Cardano (ADA) is trading at 0.047312 dollars at the time of writing this article with a market cap of one million dollars ($1,226,670,139).

However, Cardano price is showing bearish movement in the near future, while the cryptocurrency sphere is in overall bad shape.

Cardano price analysis: Short term

Cardano price is experiencing an avalanche. A bearish outlook that is bound to make it go downhill. The four-hour chart shows is a merciless site for ADA currently showing Cardano price below all technical indicators in the short-term analysis.

Nothing but the empty echoes of a bearish breakout is signaled after the tenure-covered by the current triangle pattern- is over. The traders are prompted to pick up ‘sell ADA’ banners with the current price-onslaught.

Cardano price analysis: ADA price hits $0.047 2Cardano price chart by Trading View

A bearish relative strength index (RSI) and the moving average convergence/ divergence (MACD) with nowhere to go but down. ADA price does not look in good shape. A bullish breakout is not in sight and the technical indicators also vouch for a further downfall in ADA price.

The breakout point for ADA from the triangle pattern is at $0.0300000 that is also bearish.

Cardano price analysis: Medium-term

The medium-term Cardano price analysis reveals to us, with no surprise, more bearish patterns. Cardano is suffering while it trades at its weakest since March 2019.

Cardano price analysis: ADA price hits $0.047 3Cardano price chart by Trading View

With the loss of the head and shoulders pattern, a bearish reversal is nowhere in sight. This indicates a green signal for selling the cryptocurrency while the graph further portrays another descent.

The relative strength index (RSI) is bearish on the medium-term analysis as well while the moving average convergence/divergence (MACD) shows no clear signs as to where Cardano is headed.