TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Cardano Price Analysis: ADA/USD drops down following a heavily bullish Wednesday

  • ADA/USD faced bearish correction this Thursday, following a bearish Wednesday.
  • The price is still trending above the 20-day Bollinger Band, showing that it’s still overvalued.
Cardano Price Analysis: ADA/USD drops down following a heavily bullish Wednesday
Rajarshi MitraRajarshi MitraIndependent Analyst

ADA/USD daily chart

ADA/USD daily chart

ADA/USD bears dropped the price down from $0.0976 to $0.0945 this Thursday. This followed a heavily bullish Wednesday, wherein the price flew up from $0.0833, climbing above the 20-day Bollinger Band, in the process. The price is still trending above the Band, indicating that it’s currently overvalued, and may fall even more. The MACD and Elliott Oscillator have both had two straight bullish sessions of increasing intensity. 

Support and Resistance

ADA/USD has one strong resistance level at $0.0976. On the downside, healthy support levels lie at $0.0889, $0.0844, $0.0823 (SMA 20) and $0.0736 (SMA 50).
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network  hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.

Cosmos Hub Price Forecast: ATOM under pressure as bearish momentum accelerates

Cosmos Hub Price Forecast: ATOM under pressure as bearish momentum accelerates

Cosmos Hub steadies near $1.82 at the time of writing on Monday, following a 20% decline the previous week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.

Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe show bearish signals at key levels

Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe show bearish signals at key levels

Meme coins are hovering around key support zones at the start of this week on Monday, after extending losses in the previous week. Dogecoin (DOGE) signals a neutral near-term bias with a slight bearish tilt.

Solana Price Forecast: SOL consolidates amid rising Middle East tensions

Solana Price Forecast: SOL consolidates amid rising Middle East tensions

Solana (SOL) trades around $84 at press time on Monday, coiling further within a consolidation range that keeps the momentum trapped. Institutional interest in Solana resurfaced last week, with inflows of over $44 million capping downside pressure.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.