- Cardano ADA Falls to the $0.080 Level Risking Lower Lows Against the USD
- If the Token Keeps Falling. It Might Decline to the Support At $0.0712
ADA Price Prediction – Cardano ADA has taken a major drop in price below a key support level and is currently at risk of moving lower against the USD near-term. The current price action of Cardano ADA is discouraging since the token was one of the most successful tokens in the first few months of 2020. In the weeks before the Cardano Shelley hard fork, the Cardano ADA token reached a yearly high moving from the $0.050 level to the $0.155 level. Unfortunately, the bullish momentum declined and the investors are not sure when the token will start recovering against the USD.
Cardano ADA Price Prediction – Cardano Has Lost Key Support With Lower Lows on the Way
At the time of writing, the price of the Cardano ADA token was $0.082054. This means that it is down by 4.12% against the USD and down by 0.28% against Bitcoin BTC. The trading volume over 24 hours was $698,526,525 and the market capitalization was $2,552,914,363. As the token fell below the $0.155 level, it still had hope as it hovered above the $0.130 level for a few weeks. Things even became worse when the ADA token fell below the support at $0.100 level. The Cardano ADA token hovered above the $0.095 level for a few days. This morning, however, ADA moved below the $0.090 level. Now, the token is struggling to hold the line at $0.082.
The Cardano ADA token must remain above the $0.080 level to prevent it from moving lower against the USD anytime soon. Right now, there is strong support at the $0.076 level. A decline below the $0.076 level will take the token to the 200-day moving average which is the $0.073 level. The bearish pressure is strong in the 50-day Moving Average. The Awesome Oscillator that has appeared on the charts show that there is underlying bullish pressure for the Cardano ADA token. In the larger picture, the candles are moving south so the bears are still in the market.
Cardano (ADA) Price Today – ADA / USD
The relative strength index has been a bearish territory for a while but it has found some stability. Most Cardano ADA analysts believe that the token will still fall lower against the USD. Right now, Bitcoin’s bearish pressure is affecting Cardano ADA and the rest of the market. Bitcoin BTC is currently trading at $10,482.94. This means that it is up by 0.76% against the USD and up by 2.30% against Bitcoin BTC. The trading volume over 24 hours.