The post Cardano’s Price Could Fall As The Bears Retest The $0.35 Low appeared on BitcoinEthereumNews.com.

Nov 22, 2023 at 10:32 // Price The price of Cardano (ADA) has been fluctuating since Nov. 11 when the price reached $0.39, but buyers have not been able to sustain the positive momentum above the $0.40 level. Long-term forecast for the Cardano (ADA) price: bullish The altcoin is forced to fluctuate in a narrow range. Since November 11, the ADA price has been fluctuating between $0.34 and $0.40. The bulls have successfully defended the current support level as well as the 21-day SMA. Today, ADA price fell to a low of $0.35 as the bulls bought the dips. At the time of writing, ADA/USD is trading at $0.37. Cardano threatens a drop to above $0.30 if the bears fall below the 21-day SMA or the current support at $0.34. On the upside, ADA is overbought and a rise above $0.40 is unlikely. The coin will reverse after a price rise. Cardano indicator analysis Today, the ADA price is bouncing as it retests the 21-day simple moving average. Last week, the 21-day SMA supported the price bar. Cardano will fall if the bears drop below the 21-day simple moving average. If the 21-day SMA is breached, the selling pressure will continue to the 50-day SMA. Technical indicators Key resistance zones: $0.30, $0.35, $0.40 Key support zones: $0.20, $0.15, $0.10 What is the next move for Cardano (ADA)? Cardano’s rise ended at a high of $0.39 but traded below the $0.40 resistance zone, with ADA prices hovering between $0.34 and $0.40. Bulls will continue to have the upper hand as the altcoin trades in the bullish trend zone. Last week Coinidol.com wrote that Cardano (ADA) price has resumed its uptrend after the breakdown of the uptrend on November 11. The ADA price previously rose to a high of $0.39, which was…

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Filed under: News - @ November 22, 2023 4:16 pm