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Cardano Price Prediction for Today, October 10: ADA/USD Slumps as Price Drops Below $0.42

Cardano Price Prediction for Today, October 10: ADA/USD Slumps as Price Drops Below $0.42
Cardano Price Prediction for Today, October 10: ADA/USD Slumps as Price Drops Below $0.42

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According to the daily chart, the Cardano (ADA) price prediction remains below the moving averages as the coin trades below the $0.42 level.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.41
  • Cardano market cap – $14.2 billion
  • Cardano circulating supply – 34.2 billion
  • Cardano total supply – 35 billion
  • Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.50, $0.52, $0.54

Support levels: $0.35, $0.33, $0.31

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ADA/USD is likely to remain below the 9-day and 21-day moving averages as the coin heads to gain more downtrends. However, as the bears step back into the market, the Cardano price is seen losing momentum below the moving averages along with a potential price surge.

Cardano Price Prediction: ADA/USD May Follow the Downtrend

The Cardano price is moving bearishly as the bears take charge of the market. Meanwhile, a bullish cross above the 9-day and 21-day moving averages is needed to correct the immediate bearish pressure and could 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 $0.50, $0.52, and $0.54.

However, on the downside, once the support level of $0.41 is broken, the sell-off could gain traction with the next focus at the nearest support level of $0.38, which could be followed by the nearest support level of $0.36. Therefore, if these levels are broken, the downside pressure may increase and the next support is created by the critical supports at $0.35, $0.33, and $0.31 as the technical indicator Relative Strength Index (14) moves below the 40-level.

Against Bitcoin, the Cardano (ADA) is following a downward trend as revealed by the technical indicator Relative Strength Index (14). Although the market price is unstable as it hovers around 2161 SAT. Meanwhile, a low swing could push the coin to the support level of 2000 SAT and below.

ADABTC – Daily Chart

At the moment, the bears are in control and the Relative Strength Index (14) may stay below the 40-level. On the other hand, a rebound may occur if the buyers could defend the current market value of 2161 SAT and push it above the 21-day moving average which could help the coin to hit the potential resistance level of 2400 SAT and above.

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