Cardano price analysis: ADA suffer a further downtrend to lows of $0.3514 – Cryptopolitan

Cardano price analysis is showing signs of a downtrend, as the price has been following a decreasing movement since the start of today’s trading session. Bears have dragged price levels down to $0.3514, which represents a 5.70% decrease in the last 24 hours. Although the cryptocurrency was under the bullish lead in the prior weeks, the trends have slightly shifted during the past few days. The bears have been successful in making their comeback on the price chart, as the red candlestick is indicating a loss in price up to the $0.3469 mark.

Cardano 1-day price chart: Bearish resistance results in a declining trend for ADA

The one-day Cardano price analysis is confirming a decline in coin value, as the price has been following a bearish trend for the day. The circumstances are turning favorable for the sellers, as the past weeks observed a constant improvement in the ADA market price. Nonetheless, a downturn in price occurred today which is why the price has been lowered to $0.3514 point. The moving average (MA) is still quite low and is present at the $0.375 marker.

The SMA 50 curve is traveling above the candlesticks, indicating a bearish resistance in the market. The SMA 200 curve is also gradually following a descending movement, validating the current downtrend for ADA/USD. The Relative Strength Index (RSI) index has moved down to the 57.30 level. The MACD indicator is also suggesting a bearish divergence, as the signal and histogram lines are following a downward curve.

Cardano price analysis: ADA price backtracks to $0.3514 as bears regain dominancy

The price is headed down according to the four hours Cardano price analysis and has reached the $0.3514 position. The short-term trending line is also descending as the bears have been showing control over the market for the past few hours. The last four hours have proved damaging for the cryptocurrency value as well as the price declined on a noticeable level. The price is still below the moving average value of $0.362, which is creating hindrances in the path of recovery.

The price is still below the 0.37 mark which suggests that bears are controlling the market at present time. The MACD indicator’s signal line and histogram bars have crossed over each other, signifying a further downward movement for ADA/USD. The strong drop in price has resulted in a decrease in the RSI index as well, and currently, the score is at 41.17.

Cardano price analysis conclusion

A decline in price has been observed during the day, which is why the Cardano price analysis has been devalued to the $0.3514 level. Although the bullish momentum was on its way to recovery in the earlier weeks, a change in price movements has been recorded. The price might touch lower points in the upcoming days, as both the hourly and daily price charts are showing a bearish trend.