- Summary:
- Cardano Price took the support of $ 0.680 but technical and funamentals have signed an underlying weakness that could delay the transition to $ 0.70.
Cardano's price returned to Monday on Monday, retiring the $ 0.680 support, but stayed within a wider downtrend that would return two weeks. The coin is at $ 0.686 at the time of writing, up to 1.4% in the sun -day chart, but down 2.46% in the weekly time frame. Despite the acquisitions registered by the ADA price in the sun -sun chart, its trading volume dropped 29% in the last 24 hours, signing a decline in purchasing appetite.
The broader crypto market is generally in a low upward momentum after the move of Bitcoin to six figures territory stopped near the $ 98k mark. The Crypto Market Bellwether has since broken under $ 95K support, which increases the possibility of an extended downtrend.
Cardano price is lacking in specific affecting asset foundations and its trajectory is likely to depend on bitcoin performance. The case for the descending momentum is also supported by 2.5% denial of open coin interest contracts to $ 355 million in the last 24 hours.
In the day -to -day chart, the ADA price has RSI at 51 in the day -to -day chart and the average Index (ADX) direction is at 19. These indicators sign like a decisive momentum, to raise the hope that the coin will be followed by a sideways trajectory. Meanwhile, immediate objection is likely to come at $ 0.700.
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Cardano's price prediction
The Cardano price of the Pivot Mark is at $ 0.679 and the upper level action favors the controlled consumers. The coin is likely to meet the initial resistance to $ 0.690, but a stronger upward momentum will ruin that barrier and potentially test $ 0.700.
On the downside, ADA price momentum is likely to favor sellers if it breaks below $ 0.679. That is likely to see the first support came at $ 0.673. Destruction below that level will prove the reversal narrative. Also, such a move can strengthen the downside momentum and send the coin to the second support to $ 0.665.
