Cardano Price Prediction for Today, May 21: ADA/USD Bracing for Further Decline Below $0.360

The Cardano price prediction shows that ADA may be facing another bearish run to the support level of $0.350.

Cardano Prediction Statistics Data:

• Cardano price now – $0.360
• Cardano market cap – $12.5 billion
• Cardano circulating supply – 34.8 billion
• Cardano total supply – 35.8 billion
• Cardano Coinmarketcap ranking – #7

ADA/USD Market

Key Levels:

Resistance levels: $0.450, $0.470, $0.490

Support levels: $0.300, $0.280, $0.260

ADA/USD is trading below the 9-day and 21-day moving averages as the coin could slide to the downside. However, the traders could see that bears are stepping back into the market and the Cardano price is likely to lose momentum below the lower boundary of the channel.

Cardano Price Prediction: ADA/USD Might be Down Right Now

At the time of writing this, the Cardano price is moving sideways as the coin the bears continue to take charge of the market. Meanwhile, a bullish cross above the 9-day and 21-day moving averages is needed for the coin to correct the immediate bearish pressure and take the coin back on the recovery trend. Once it is out of the way, the upside is likely to gain traction with the next focus at the resistance levels of $0.450, $0.470, and $0.490.

However, on the downside, once the support level of $0.350 is broken, the sell-off could gain traction with the next focus at the nearest support level of $0.340, which could be followed by the nearest support level of $0.320. Therefore, if these levels are broken, the downside pressure may increase and the next supports could be located at $0.300, $0.280, and $0.260 while the technical indicator Relative Strength Index (14) moves below the 40-level.

Against Bitcoin, the Cardano (ADA) is range-bounding as revealed by the technical indicator Relative Strength Index (14). The coin continues to move below 9-day and 21-day moving averages and a low swing could bring ADA/BTC to the support level of 1200 SAT and below.

On the other hand, a rebound may occur if the buyers could push the coin toward the upper boundary of the channel which may cause the coin to hit the potential resistance level of 1550 SAT and above.

Alternatives to Cardano

The Cardano price is moving sideways as the bears move to return to the market. However, a positive movement toward the upper boundary of the channel is needed to correct the immediate bearish pressure and take the coin back on the recovery trend. On the downside, the support level of $0.350 is likely to be broken, once this is done, the sell-off could gain traction with the next focus at the nearest support level of $0.320. Nevertheless, the presale for the AiDoge (AI) token is selling fast, and about $12 million has been raised so far. Traders are therefore encouraged to act fast before the expiration of the presale.