ADA Price Analysis – March 26
Cardano is down by 0.13% over the last 24 hours. The next support for the coin may likely reach $0.026 level.
Resistance levels: $0.038, $0.040, $0.042
Support levels: $0.021, $0.019, $0.017
Before now, Cardano has been performing quite well. The last few days brought an escalation in the price of ADA coin. During the same period, the entire market was seen dealing with the bear, but ADA/USD kept the movement intact. The same reflects that the coin has pretty good potential until yesterday and today that ADA price drops slightly and about to cross below the 9-day moving average.
More so, if the ADA/USD pair begins to stay under the control of bears, the price may drop to the nearest supports at $0.021, $0.019 and $0.017 levels. On the upside, the bulls need to push the price above the channel and towards the next level of resistance at $0.038, $0.040 and $0.042. The RSI (14) now moves in the same direction, indicating a sideways movement.
Against Bitcoin, the market is seen to be moving below the 9-day moving average following the descending channel where the price is expected to break above the upper limit of the channel. Should the price cross above the channel, the market may begin the upward movement which could touch the nearest resistance level of 500 SAT.
In other words, if the bulls could not push the market to the north and above the 9-day MA, the bears may drag the price to cross the lower limit of the Bollinger bands which could reach the support levels of 390 SAT and 380 SAT respectively. Meanwhile, the RSI (14) is seen moving out of the oversold zone as the coin may begin a new trend.
Please note: Cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.