ADA Price Analysis – July 12
Cardano is down by 2.49% over the last 24 hours. The next support for the coin may likely reach $0.100 level.
Resistance levels: $0.140, $0.150, $0.160
Support levels: $0.100, $0.090, $0.080
Before now, Cardano has been performing quite well. Today, the entire market is seen dealing with the bears, but ADA/USD is keeping the movement intact. The same reflects that the coin has pretty good potential until July 9 and 10 that ADA price dropped and touched the 9-day moving average.
However, if the ADA/USD pair stays under the control of bears, the price may drop to the nearest supports at $0.100, $0.090, and $0.080 levels. On the upside, the bulls need to push the price above the channel and towards the next level of resistance at $0.140, $0.150, and $0.160. The RSI (14) is seen moving around 70-level, indicating a sideways movement.
Against BTC, the market is seen to be moving within the ascending channel where the price is expected to be broken out as revealed in the daily chart. Should the price break above the upper side of the channel, then, the market may experience an upward trend and it could move towards the nearest resistance level of 1400 SAT.
Furthermore, the bullish sentiment could push the market to reach 1530 SAT and above. In other words, if Cardano moves below the 9-day MA, the market is expected to reach the support zones of 1160 SAT and below. The RSI (14) indicator confirms that the market may move sideways as the signal line stays within the overbought zone.