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InsideBitcoins

08/21/2022

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ADA Could Drop Below $0.40 Support; Tamadoge Obeys Bulls’ Control

The Cardano price prediction reveals that ADA may find a halt at $0.40 as the price is down by 1.87% after touching the $0.46 High. [...]

ADA Could Drop Below $0.40 Support; Tamadoge Obeys Bulls’ Control

The Cardano price prediction reveals that ADA may find a halt at $0.40 as the price is down by 1.87% after touching the $0.46 High.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.44
  • Cardano market cap – $15.1 billion
  • Cardano circulating supply – 33.93 billion
  • Cardano total supply – 34.27 billion
  • Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.65, $0.70, $0.75

Support levels: $0.30, $0.25, $0.20

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ADA/USD price may drop further lower to find support at the $0.40 level as the daily chart reveals that the Cardano price may go lower before rising again. Therefore, if the bears continue to push the market further lower, immediate support below the $0.40 level may be located. Beneath this, further supports may be found at $0.30, $0.25, and $0.20.

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ADA Price Heads to the South as Tamadoge (TAMA) Increases

As the daily chart reveals, if the buyers can hold the support at $0.43, the Cardano price may begin to climb higher, and bulls could expect immediate resistance to be located above the upper boundary of the channel.

However, moving towards the upper boundary of the channel may locate the higher resistance levels at $0.65, $0.70, and $0.75. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross into the oversold region, which shows that the market price may drop more.

Against Bitcoin, the Cardano price is moving to the downside, likely to cross below the lower boundary of the channel. Therefore, should the price cross below the channel, the market could hit the support level at 1825 SAT and below.

ADABTC – Daily Chart

On the contrary, if the bulls could manage and push the market towards the north, it may cross above the moving averages to face the upper boundary of the channel. If successful, the ADA price may reach the resistance level of 2500 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the sellers as the signal line moves to cross below the 40-level.

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