Cardano is at a Critical Point: Will it Soar or Crash? Three Things to Watch this Week (Cardano Price Analysis)

2023-11-28 13:50:23

Cardano’s price could not move higher and sellers returned.

Key Support levels: $0.38, $0.35

Key Resistance levels: $0.41

1. Momentum Shifts Bearish

Momentum has turned bearish this week after buyers failed to make a higher high. With the price on the key support at $0.38, bulls have to do their best to defend this level.

Chart by TradingView## 2. Volume Declines

With the uptrend lost, the buying pressure declined, and now sellers appear to have taken over the price action. The resistance at $0.41 continues to hold strong and has so far rejected all attempts by Cardano to break it.

Chart by TradingView## 3. Bearish MACD

In the past few days, the daily MACD has been falling, and the bearish momentum has intensified. If nothing changes, then ADA could fall to $0.35 next.

Chart by TradingView## Bias

The bias for ADA is bearish.

Short-Term Prediction for ADA Price

With bears taking control of the price, ADA is found at a critical support level. Should $0.38 fall, then buyers will most likely retreat to $0.35 next.

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