Cardano Price Analysis: ADA/USD May Cross below $0.86 Support

Cardano Price Analysis – March 20

The Cardano price may find a halt at $0.85 as the price is down by 2.77% over the last 24 hours.

ADA/USD Market

Key Levels:

Resistance levels: $1.20, $1.30, $1.40

Support levels: $0.65, $0.55, $0.45

ADAUSD – Daily Chart

ADA/USD price may drop further lower to find support at the $0.85 level. However, the daily chart reveals that the Cardano price may go lower below the 9-day and 21-day moving averages before rising again. Therefore, if the bears continue to push the market further lower, the immediate support below the $0.80 level may be located. Beneath this, further supports may be found at $0.65, $0.55, and $0.45.

Cardano Price Analysis: ADA Price May Move Sideways

As the daily chart reveals, if the buyers can hold the support at $0.86, the Cardano price may begin to climb higher and bulls could expect immediate resistance to be located at $1.00 which is further close to the upper boundary of the channel.

However, crossing above the channel may locate the higher resistance levels at $1.20, $1.30, and $1.40. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross below 50-level, which shows that the market may drop slightly.

ADA/BTC Market: More Bearish Drops May Play Out

When compared with Bitcoin, the Cardano price is seen moving to the downside within the descending channel where the price is expected to break below the 9-day and 21-day moving averages. Therefore, should the price cross below this barrier, the market could experience more downtrends below the lower boundary of the channel to hit the support level of 1500 SAT and below.

ADABTC – Daily Chart

On the contrary, if the bulls could manage and push the market towards the north, it may face the upper boundary of the channel. If successful, the ADA price may reach the resistance level of 2800 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 remains below 50-level.