Cardano Price Prediction for Today, July 12: ADA Heads Below $0.45 Support

Updated: 12 July 2022

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The Cardano price prediction reveals that ADA may find a halt at $0.40 as the price is down by 1.45% over the last 24 hours.

Cardano Prediction Statistics Data:

Cardano price now – $0.42
Cardano market cap – $14.4 billion
Cardano circulating supply – 33.74 billion
Cardano total supply – 34.27 billion
Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.75, $0.80, $0.85

Support levels: $0.20, $0.15, $0.10

Buy Cardano Now

ADA/USD may drop further lower to find support at the $0.40 level if the coin gains more downsides. However, the daily chart reveals that the Cardano price may go lower towards the lower boundary of the channel before rising again. Therefore, if the bears continue to push the market further lower, immediate support below the $0.40 level may be located. Beneath this, further supports may be found at $0.20, $0.15, and $0.10.

Cardano Price Prediction: ADA Price May Stay at the Downside

As the daily chart reveals, the Cardano price may slide and face the south but if the buyers can hold the support at $0.40, the Cardano price may begin to climb higher, and bulls could expect immediate resistance to be located above the upper boundary of the channel.

However, moving above this barrier may locate the higher resistance levels at $0.75, $0.70, and $0.85. Meanwhile, the technical indicator Relative Strength Index (14) is crossing below the 40-level and could head towards the oversold region, suggesting that the market price may drop more.

ADA/BTC Market: More Bearish Drops May Play Out

When compared with Bitcoin, the Cardano price is ranging within the channel, where the price is expected to cross above the 9-day and 21-day moving averages. Therefore, should the price head toward the lower boundary of the channel, the market could hit the support level at 1700 SAT and below.

On the contrary, if the bulls could manage and push the market towards the north, it may cross above the moving averages to face the upper boundary of the channel. If successful, the Cardano price may hit the resistance level of 2700 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market moving sideways as the signal line moves below the 50-level.

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