Cardano Price May Break Break Down $0.94 Zone

Sellers’ momentum double in Cardano market

ADA Price Analysis – 14 January

 If Cardano can maintain the price above the $1.05 barrier, they might try to test the resistance levels of $1.14 and $1.22. The $0.83 and $0.76 support levels will be considered if the $0.94 barrier is breached

Key Levels:

Resistance levels: $1.05, $1.14, $1.22

Support levels: $0.94, $0.83, $0.76

ADA/USD Long-term Trend: Bearish

Cardano’s daily chart indicates a decreasing trend. The chart displayed a double top formation near the $1.14 resistance level on January 3. After trying to breach the previously set barrier level, the price initially ran into resistance at the anticipated level of $1.14. However, the coin bounces off the first expected threshold. A bearish candle pattern was displayed on the daily chart. After probing the $1.05 barrier level, bearish candles emerged. Negative activity has been occurring since January 3. The price is currently aiming for the $0.94 level after breaking the $1.05 barrier level.

The bears seem to have a firm hold on the Cardano market. Sellers are currently in charge of the market since Cardano is falling faster than the Hull Suite forex signals indicator. If Cardano can maintain the price above the $1.05 barrier, they might try to test the resistance levels of $1.14 and $1.22. The $0.83 and $0.76 support levels will be considered if the $0.94 barrier is breached.

ADA/USD Medium-term Trend: Bearish

The 4-hour chart for Cardano shows a downward trend. Two unsuccessful attempts to break above the $1.14 4-hour chart’s support level have occurred in recent weeks. ADA’s value increased to roughly $1.14 as purchasing momentum increased and more bulls than bears entered the market. A bearish engulfing candle appeared as the currency hit the target level, suggesting that sellers are defending the level. At the moment, the price is falling approaching $0.94.
The best forex signal source, the QQE MOD indicator, is below the zero line and displaying a selling signal, while Cardano’s price is currently below the Hull Suite Crypto indicators.

Start using a world-class auto trading solution

You can purchase Lucky Block here. Buy LBLOCK