Cardano Fails to Remain Above $0.044, While Bitcoin Consolidates Near $10,300 Despite A Major Plunge

  • Cardano sees a pullback after yesterday’s rebound to $0.0445
  • ADA seems to have support around $0.043

Considering the intraday chart of Cardano, Yesterday’s price rebound is losing its momentum since yesterday against the U.S Dollar, after it saw a plunge near $0.0435. Notably, Bitcoin went through a price shift with a bearish bias yesterday before closing, though the leading crypto coin has maintained its price above $10,300 till now.

Yesterday, ADA price opened at $0.0446 and after a bullish price move near $0.0448, the coin traced a dip below $0.0440. Cardano found support at $0.0435 and bounced up again near $0.0445 with an increase of 2.23%. However, before closing at $0.04441, the coin started its pullback, which has been extended today.

Due to the downtrend, Cardano has been trading around $0.043 since 3:00 UTC today. At 07:30:27 UTC, ADA is trading at $0.04399.

ADA to USD Price Chart

Cardano Price
Cardano Chart By TradingView

The long term SMA line (200-day) is well above the short term (50-day) SMA line indicating a bearish impact. Although the MACD chart shows a bullish price move as the MACD line has just crossed above the signal line.

RSI is in the transition phase near 54, as it is heading towards overbought momentum. Cardano coin may face resistance at $ 0.04485, $ 0.04529 and $ 0.0458, while can find support at $ 0.04388, $ 0.04335, and $ 0.0429.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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