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Cardano Price Prediction: Bearish Divergence in the RSI



 The Cardano price is about to reach the price target of the last forecast at around USD 0.53. But in the short term, ADA could correct now.


Cardano Price Prediction: Bullish Divergence in RSI

In the last Cardano Price Prediction we wrote: “While the MACD lines are still bearish crossed, the  RSI  on the daily chart shows a small  bullish divergence  . In addition, the histogram of the MACDs in the daily chart has been bullishly higher for a few days. In the short term, the Cardano price could now rise to around USD 0.49 or USD 0.53. "


The Cardano course is about to reach the golden ratio at around USD 0.53

The Cardano price has risen sharply since the last price forecast and in the meantime corrected very sharply to the golden ratio support at around USD 0.46, from which the ADA price could bounce. With that, Cardano again broke the resistance around USD 0.49 and is on the verge of reaching the golden ratio resistance around USD 0.53.


If Cardano also breaks this resistance, the ADA price could try again to break the golden ratio resistance at around USD 0.58. In addition, the histogram of the MACDs has been ticking bullishly higher since yesterday and the MACD lines are also bullishly crossed.


There are bullish and bearish signals for the ADA price on the 4H chart

A golden crossover has now established itself in the 4H chart, negating the death cross and confirming the trend as bullish in the short term. However, the 4H chart shows a bearish divergence in the RSI and the histogram of the MACDs is also ticking bearishly lower. In the short term, the Cardano course could correct to around USD 0.486 or even USD 0.461. There, Cardano encounters significant Fibonacci supports.


Can Cardano price break the 200-week EMA?

There are only a few hours left until the weekly candle closes in the night from Sunday to Monday. At around USD 0.53, the Cardano price not only encounters significant Fibonacci resistance, but also the 200-week EMA. A bearish rejection would indicate a continuation of the downside with a possible pullback to support between $0.34 and $0.4.


A bullish break, on the other hand, would indicate a rise to the golden ratio around $0.59. If this golden ratio resistance is broken, the Cardano price could rise to the 0.382 Fib level at around USD 0.723 or even to the golden ratio at around USD 0.93. Additionally, the 50-week EMA around $0.855 is acting as a significant resistance.


In addition, the histogram of the MACDs has been ticking bullishly higher since last week and the MACD lines are also bullishly crossed in the weekly chart. The RSI is neutral.


In the monthly chart, the Cardano price is at the 50-month EMA resistance

In the monthly chart, the ADA price is now again hitting the 50-month EMA resistance at around USD 0.5123. There, the Cardano course has been bearishly rejected for the past two months. However, the MACD histogram is starting to tick bullishly higher this month.


If it closes bullish this month, it will indicate the beginning of a bullish trend reversal. However, the MACD lines remain bearishly crossed.


Against BTC, the ADA price was finally able to break the 0.382 Fib resistance at around 0.000024 BTC

Against BTC, ADA price finally broke the 0.382 Fib resistance around 0.000024 BTC after weeks of bouncing between 0.382 Fib support around 0.0000209 BTC and 0.382 Fib resistance. With that, the Cardano price is currently at the 50-week EMA at around 0.00002474 BTC, where ADA seems to be bearishly rejected this week.


Cardano thus finds significant Fibonacci support at around 0.00002176 BTC and around 0.000019 BTC. Before that, however, significant support awaits at the 200-week EMA at around 0.0000208 BTC.


Apart from this week's bearish price action, the MACD is clearly bullish on the weekly chart. The MACD histogram has been ticking bullishly higher since last week and the MACD lines are also bullishly crossed, while the RSI is 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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