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Cardano Price Prediction: Will ADA Return to $0.4 Again?

 


The Cardano price could now return to the last local bottom at around USD 0.4 again. But could the ADA price fall even lower?


Cardano price was rejected at the golden ratio resistance

The Cardano price reached the price target of the golden ratio at around USD 0.58 , but was strongly rejected and even broke the 50-day EMA support at around USD 0.514. In addition, the histogram of the MACDs in the daily chart is ticking bearishly lower and the MACD lines are also crossed bearishly. The RSI is neutral.


Cardano thus also broke through both Fibonacci supports at around USD 0.52 and USD 0.47 and the ADA price is currently finding horizontal support at around USD 0.45. The ADA course must overcome the Fibonacci resistances at around USD 0.5 and USD 0.54 for the correction to end. Otherwise, Cardano could return to the USD 0.4 mark again.


Will the Cardano price find its bottom at around USD 0.4?

Now the histogram of the MACDs in the weekly chart is also beginning to tick bearishly lower. However, the MACD lines are still bullishly crossed and the RSI is neutral. Still, the bearish rejection on the golden ratio with the sharp drop is very bearish and points to even deeper lows as it confirms the bear trend.


If the ADA price bounces off the USD 0.4 mark for a third time, there is still a chance that Cardano will try again to break the golden ratio at around USD 0.58.

Otherwise, the ADA price could fall to around USD 0.34, because that is where it finds the next significant support. If Cardano also breaks this support, significant support will wait for Cardano again between USD 0.139 and USD 0.155.


Also, on the monthly chart, the MACD lines are still bearish crossed over, but the histogram is starting to tick bullishly higher this month. If it closes bullish, it would be the first indication of a bullish trend reversal. However, if Cardano now drops to $0.4 or even lower, the histogram will most likely close on a bearish note.


Against BTC, Cardano was bearishly rejected at the 0.382 Fib resistance

Against BTC, the ADA course was bearishly rejected at the 0.382 Fib resistance around 0.000024 BTC and subsequently finds significant support around 0.000021 BTC. If the ADA price breaks this support, Cardano could revisit the 50-month EMA around 0.0000195 BTC. In addition, ADA finds support there on Golden Ratio.


Otherwise, significant support awaits the ADA course between 0.00001225 and 0.000016 BTC. Furthermore, the MACD histogram is still ticking bullish higher while the MACD lines remain bearish crossovers and the RSI is showing neutral.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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