Cardano has not breathed a sigh of relief since support at 35 cents was broken downwards. With buyers absent, the price currently has only one direction.
Key support level: $0.30
Key resistance level: $0.35
ADA is rapidly approaching the key support of 30 cents. The bears have taken full control of the price action and have been bearish since mid-February. The current resistance level at 35 cents may not be tested until the cryptocurrency finds support.
Volume: Steady volume of sales pushes prices down almost daily. At this point buyers are nowhere to be found.
RSI: The daily RSI is at 34 and may soon reach the oversold area below 30.
MACD: The daily chart MACD continues to be bearish, and the moving average continues to decline. There is no sign yet of a possible reversal.
The bias for ADA is bearish. The current price action remains bearish and it will be important to see how the market develops in the coming week following some important macroeconomic events.
