Following the negative sentiment in the crypto markets, ADA, Cardano’s native token, has slammed below the $1 mark. Despite a wick below on Saturday, this level is the lowest since April 2021. ADA is now 68% below its ATH from September.
Key Support levels: $0.9, $0.67-0.7
Key Resistance levels: $1, $1.2
ADA seemed to find a temp relief over the weekend, but this quickly changed on Monday (as of writing this) when the price tanked.
The bears appear to have complete control of the market, as it seems like ADA is heading quickly to reach the next support at $0.9. If the latter won’t hold, the next major support area is further below – $0.67-0.7 (Fib level + February’s low).
Chart by TradingView
Technical Indicators
Trading Volume: High volume followed the most recent crash which is a bearish sign and a red flag. The last six out of seven daily candles were red.
RSI: The daily RSI crashed after the most recent high at $1.6, going from 65 points to 36. This tells on sustained selli
We współpracy z: https://cryptopotato.com/ada-crashed-below-1-recording-lowest-since-april-2021-cardano-price-analysis/
