ADA Price Analysis – June 20
Cardano (ADA) slips today as the price drops to $0.076. Meanwhile, ADA/USD may likely create a new low.
Resistance levels: $0.095, $0.100, $0.105
Support levels: $0.065, $0.060, $0.055
After touching the daily high of $0.081, ADA/USD is seen falling beneath the long-term support at $0.078 to touch the low of $0.076, which is now, subject to the price actions below the 9-day and 21-day moving averages. As the bears take charge, the coin is following the sideways movement within the channel along with a potential price surge. Any upward movement above the moving averages may see the coin creating a new trend in the nearest term.
However, if ADA/USD decides to stay under the control of bears, the price may likely drop to the nearest supports at $0.065, $0.060, and $0.055. On the upside, the bulls need to push the price above the channel to reach the resistance at $0.095, $0.100, and $0.105 levels. Meanwhile, the technical indicator RSI (14) focuses on the downward movement, which may likely introduce more bearish signals into the market.
Against Bitcoin, the market is seen to be moving below the 9-day and 21-day moving averages within the channel where the price is expected to cross below the moving averages. Should the price cross below this barrier, the market may experience a downward trend that could touch the nearest support level of 760 SAT and below.
However, if the bulls could push the market above the channel, ADA price may reach the resistance levels of 950 SAT and above respectively. The RSI (14) indicator confirms that the market is bearish as the signal line moves below 60-level.