Cardano Price Prediction for Today, July 23: ADA Crashes at $0.49 Level

Updated: 23 July 2022

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The Cardano price prediction shows that ADA failed to trade above the $0.49 level as the coin heads to the downside.

Cardano Prediction Statistics Data:

Cardano price now – $0.47
Cardano market cap – $16.1 billion
Cardano circulating supply – 33.7 billion
Cardano total supply – 34.5 billion
Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.65, $0.70, $0.75

Support levels: $0.35, $0.30, $0.25

Buy Cardano Now

ADA/USD could fall below the 9-day and 21-day moving averages after touching the daily high of $0.49, which is now subject to price actions near the resistance level of $0.50. However, as the bears step back into the market, the Cardano price is likely to lose momentum to the lower side of the rising wedge.

Cardano Price Prediction: ADA/USD Not Yet Ready for The North

The Cardano price may continue to face the south as the coin moves to cross below the 9-day and 21-day moving averages. Meanwhile, a bullish cross towards the upside is needed to correct the immediate bearish pressure and push the coin back on the recovery trend. If this works out, the upside could gain traction with the next focus on $0.65, $0.70, and $0.75 resistance levels.

On the downside, once the coin crosses below the moving averages, it is likely for the support of $0.40 to be broken. Once this is done, the sell-off may gain traction with the next focus at the critical support levels at $0.35, $0.30, and $0.25 respectively. Consequently, if these levels were broken and the coin crosses below the lower boundary of the channel, the selling pressure may increase as the technical indicator Relative Strength Index (14) moves to cross below 50-level.

ADA/BTC Market: Cardano Price Keeps Ranging

When Compared with Bitcoin, the Cardano price is moving in sideways as revealed by the technical indicator Relative Strength Index (14). Meanwhile, a low swing could push the coin to the support level of 1800 SAT and below. At the moment, the bears are likely to come into focus as the Relative Strength Index (14) may stay below 50-level.

On the contrary, a rebound may occur if the buyers could defend the current level and push it above the 9-day and 21-day moving averages which could hit the potential resistance level of 2500 SAT and above.

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