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InsideBitcoins

11/06/2022

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Cardano Price Prediction for Today, November 6: ADA/USD Could Drop Below $0.41 Support

The Cardano price prediction reveals that ADA may find a halt at $0.41 as the price is down by 1.88% after touching the $0.43 High. [...]

Cardano Price Prediction for Today, November 6: ADA/USD Could Drop Below $0.41 Support

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The Cardano price prediction reveals that ADA may find a halt at $0.41 as the price is down by 1.88% after touching the $0.43 High.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.41
  • Cardano market cap – $14.3 billion
  • Cardano circulating supply – 34.3 billion
  • Cardano total supply – 35.1 billion
  • Cardano Coinmarketcap ranking – #9

ADA/USD Market

Key Levels:

Resistance levels: $0.50, $0.55, $0.60

Support levels: $0.35, $0.30, $0.25

ADA/USD price may drop below the 9-day moving average to find support at the $0.40 level as the daily chart reveals that the Cardano price may go lower before rising again. If the bears continue to bring the market further lower, immediate support below the $0.38 level may be located. Beneath this, further supports could be found at $0.35, $0.30, and $0.25.

Cardano Price Prediction: ADA Price Heads to the South

As the daily chart reveals, if the buyers can hold the support at $0.41, the Cardano price may begin to climb higher by a cross above the upper boundary of the channel, and the bulls could expect immediate resistance to be located above the channel.

However, crossing above the barrier could locate the higher resistance levels at $0.50, $0.55, and $0.60. Meanwhile, the technical indicator Relative Strength Index (14) is moving below the 60-level, which shows that the market price may drop more.

Against Bitcoin, the Cardano price is moving to the downside, likely to cross below the 9-day and 21-day moving averages. Therefore, should the price slide below the lower boundary of the channel, the market could hit the support level at 1600 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 upper boundary of the channel. If successful, the ADA price may reach the resistance level of 2400 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market is likely to be controlled by the sellers as the signal line moves below the 50-level.

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Related:

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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.


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