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Cardano (ADA) Price Technical Analysis and Predictions

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The cryptocurrencies market went through a bearish situation yesterday but recovered slowly. Cardano (ADA) however is bearish since February 15th when it closed at $0.409. Even though today it increased slightly, Cardano (ADA) is far from recovering to its initial form.

Cardano (ADA) Price

At the moment of this writing, Cardano (ADA) is trading at $0.343 and it finally shows green as it increased by 1.88%.

Yesterday, Cardano (ADA) closed at $0.337, lower than the day before when it closed at $0.364.

Technical Analysis for Cardano (ADA)

Cardano (ADA) has its resistance at $0.40 and ADA couldn’t trade above this level. On the downside, Cardano (ADA) passed below the support levels at $0.35 and $0.33.

It also traded at $0.32 testing the $0.30 level, setting a low at  $0.29. Earlier, Cardano (ADA) was consolidating around $0.30.

This crypto coin tested the 23.6% Fibonacci retracement during the last drop from 0.386 way down to $0.299.

In the short term, the ADA graph showed that it could be hard for Cardano to break $0.33 resistance level. In addition, the graph also shows that there is a major declining pattern.

However, that declining pattern can turn into a further correction higher since ADA hits above $0.32 and settled at $0.343, as we speak. This means ADA price may keep going up, but there is still sensed a bearish sentiment.

Currently, Cardano (ADA) settled its major support level at $0.3 and its major resistance level at $0.35.

Cardano (ADA) predictions for 2018

Cardano (ADA) is the 6th crypto coin in the world by market cap with $8,916,734,391 (879,636 BTC).

Many investors turned their faces towards Cardano (ADA) and waiting for momentum.

Cryptocurrencies market specialists predicted Cardano (ADA) price will hit $1 by June. It is also possible to hit $1.5 – $2 by the end of the year.