ADA Consolidates as Price Drops Below $0.50

Looking at the daily chart, the Cardano price prediction reveals that ADA is moving sideways as the coin trades below the $0.50 level.

Cardano Prediction Statistics Data:

• Cardano price now – $0.48
• Cardano market cap – $16.4 billion
• Cardano circulating supply – 33.7 billion
• Cardano total supply – 34.2 billion
• Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.80, $0.85, $0.90

Support levels: $0.20, $0.15, $0.10

ADA/USD is trading within the 9-day and 21-day moving averages as the coin continues to follow the sideways movement. However, as the bears step back into the market, the Cardano price is likely to lose momentum below the moving averages along with a potential price surge.

Cardano Price Prediction: ADA/USD May Head to the Downtrend

The Cardano price is moving sideways as the coin the bears take charge of the market. Meanwhile, a bullish cross above the 9upper boundary of the channel is needed to correct the immediate bearish pressure and take the coin back on the recovery trend. Once it is out of the way, the upside is likely to gain traction with the next focus at the resistance levels of $0.80, $0.85, and $0.90.

However, on the downside, once the support level of $0.45 is broken, the sell-off could gain traction with the next focus at the nearest support level of $0.40, which could be followed by the nearest support level of $0.35. Therefore, if these levels are broken, the downside pressure may increase and the next support is created by the critical supports at $0.20, $0.15, and $0.10 as the technical indicator Relative Strength Index (14) moves below the 50-level.

ADA/BTC Market: Cardano Price Could Shoot to the Upside

Compared with BTC, the Cardano (ADA) is range-bounding as revealed by the technical indicator Relative Strength Index (14). However, as the coin moves around 9-day MA, a low swing could bring the coin to the support level of 1900 SAT and below.

On the other hand, a rebound may occur if the buyers could defend the 2300 SAT and push it above the upper boundary of the channel which could help the coin to hit the potential resistance level of 2800 SAT and above.

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