Cardano Price Is Dangling Between $0.366 and $0.351 Levels

Sellers are holding on to Cardano market

 

ADA Price Analysis – 15 October

 Buyers can attempt to test the resistance levels at $0.402 and $0.422 if they can keep Cardano above the $0.366 barrier. If the $0.351 barrier is overcome, the support levels of $0.331 and $0.302 will be taken into account

Key Levels:

Resistance levels: $0.366, $0.402, $0.422

Support levels: $0.351, $0.331, $0.302

 

ADA/USD Long-term Trend: Bearish

The daily chart for Cardano shows a downward trend. On September 27, the chart showed a double top formation at the resistance level of $0.402. The price tested the resistance level of $0.402 after first encountering resistance at the expected first level of $0.402. But once again, the price was dropping. A bearish candle pattern was visible on the daily chart. Bearish candles have been seen for the last four days, and the support level at $0.366 is presently being shattered. The price is currently falling in an attempt to break through the $0.351 barrier.

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The Cardano market appears to be firmly under the bears’ control. Given that Cardano is declining more quickly than the Hull Suite forex signals indicator, bears are currently controlling the market. Buyers can attempt to test the resistance levels at $0.402 and $0.422 if they can keep the price above the $0.366 barrier. If the $0.351 barrier is overcome, the support levels of $0.331 and $0.302 will be taken into account.

ADA/USD Medium-term Trend: Bearish

Cardano’s 4-hour chart indicates a declining trend. In the past three weeks, it has tried twice without success to overcome the resistance level shown by the $0.402 4-hour chart. When selling momentum increased and more bears than bulls entered the market, the value of ADA dropped to roughly $0.351. Sellers are holding the bearish engulfing candle that appeared when the currency crossed back over the predetermined level. Right now, the price is about $0.351 level.

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A selling market may be underway because Cardano’s price is presently below the Hull Suite Crypto indicators. Considering that the QQE MOD indicator, the finest provider of forex signals, is currently below the zero line and is displaying a selling signal.

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