Logo
Cardano Ecosystem

Investingcube

05/24/2021

·

1.5K views


Cardano Price Prediction: Bearish Trend Intact Until This Happens

The Cardano price is bouncing back after it crashed to a multi-week low during the weekend. ADA is trading at $1.3700, which is 43% above the lowest level during the weekend. Its total market capitalization has dropped to more...

Cardano Price Prediction: Bearish Trend Intact Until This Happens

The Cardano price is bouncing back after it crashed to a multi-week low during the weekend. ADA is trading at $1.3700, which is 43% above the lowest level during the weekend. Its total market capitalization has dropped to more than $43 billion making it the 4th biggest digital currency in the world. 

What happened: Cardano has had spectacular growth in the past few months. The blockchain network has grown popular among developers seeking an alternative to Ethereum. This growth and user adoption will likely continue as the network rolls out smart contracts features, which will help them be able to develop decentralized applications like DeFi and NFTs. 

However, like all digital currencies, Cardano has struggled in the past week. This happened as investors focused on the overall performance of Bitcoin, which is the most followed digital currency in the world. Precisely, there are concerns about interest rates, valuation, and regulations. So, what next for ADA prices?

Cardano price forecast

The four-hour chart shows that the ADA price has bounced back after it crashed to $0.9300 yesterday. The coin has jumped by more than 40% to the current $13700. Still, the chart shows that the ADA is trading below the 25-day and 50-day exponential moving averages (EMA).

It has also moved above the 78.6% retracement level and is now approaching the 61.8% retracement at $1.5115. It is also slightly above the next key resistance level at $1.5583. 

Therefore, for now, in my view, ADA will remain in a bearish trend so long as it is below the 50% Fibonacci retracement level at $1.6920 and the two moving averages. 

Don’t miss a beat! Follow us on Telegram and Twitter.

ADA price chart

cardano price

Follow Crispus on Twitter.

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Investingcube

ORIGINAL SOURCE

https://www.investingcube.com/cardano-pr...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Investingcube

See more
Cardano Price Sends Mixed Signals. What Awaits In the Coming Weeks?
Investingcube
Cardano Price Sends Mixed Signals. What Awaits In the Coming Weeks?

08/20/2025

·

38 views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)