ADA Price Prediction – Here’s Why Cardano Could Dump To $0.50

Apr 5, 2024 06:00 am Cryptocurrency 59

Cardano (ADA) is moving lower below the $0.620 resistance zone. ADA could gain bearish momentum and decline toward the $0.50 support.

ADA price is slowly moving lower from the $0.670 zone.

The price is trading below $0.620 and the 100 simple moving average (4 hours).

There is a key bearish trend line forming with resistance at $0.6008 on the 4-hour chart of the ADA/USD pair (data source from Kraken).

The pair could attempt a fresh increase if the bulls remain active above the $0.560 support.

Cardano Price Reaches Key Support

In the past few days, Cardano saw a steady decline from the $0.670 resistance zone, like Bitcoin and Ethereum. ADA price declined below the $0.650 and $0.620 levels to enter a bearish zone.

It even declined below $0.580 and tested $0.560. A low is formed at $0.5592 and the price is consolidating losses. It ..

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