Cardano Price Analysis: 3 Straight Bearish Days Takes ADA Towards $1.80

Daily Cardano ADA Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Cardano price has dropped from $2.25 to $1.83.
  • MACD shows decreasing bullish market momentum.
  • Over the last three days, the bears have taken full control of the Cardano price as it crashed from $2.25 to $1.83 - losing almost $0.42 in its overall valuation. Prior to this, the Cardano price jumped from $1.09 to $2.20 between April 26 and May 16

    Cardano Price Drops From Overbought Zone

    Looking at the Cardano price chart, we can see that the recent drop has dipped the relative strength index (RSI) from the overbought zone to the neutral territory. The MACD shows decreasing bullish market momentum.

    Image: ADA/USD daily

    Cardano ADA Daily Chart

    Cardano price has a strong resistance barrier at $1.95. Previously, at this level, nearly ~37,000 addresses had purchased ~1 billion ADA tokens. 

    Image: IntoTheBlock

    Cardano ADA Volume Chart

    Cardano Price Is Expected To Reach These Levels

    The Cardano price is on a steady downtrend and will likely fall to the 20-day SMA, which is the healthiest support wall as per the IOMAP. The buyers will need to bounce up from this level.

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