ADA Price Down, With Bearish Indicators Dominating
Cardano (ADA) price is under intense pressure, falling by 20% in the past 30 days. This downturn highlights ongoing bearish sentiment, with technical indicators suggesting the trend could intensify further.
Key indicators such as the ADX and Ichimoku Cloud suggest bearish momentum is building, while price levels near key support and resistance areas remain critical to ADA’s short-term direction.
Cardano Downtrend Getting Stronger
cardano ADX is currently at 19.65, up sharply from 12.85 two days ago. This sharp increase indicates that the strength of ADA’s current trend is starting to increase, although it is still in a downward trend.
The rise in ADX suggests that bearish momentum may be regaining some control, so traders must keep an eye on further developments in the coming sessions.
The Average Directional Index (ADX) measures the strength of a trend, whether up or down, on a scale from 0 to 100. Values above 25 indicate a strong trend, while readings below 20 indicate weak or non-existent trend strength. ADA’s ADX is currently at 19.65, and the indicator suggests that it may be emerging from a period of weak trend activity.
However, as ADA Still in a downtrend, a rise in ADX could signal a strengthening of bearish momentum in the near term, increasing the likelihood of continued price declines unless support levels hold.
Ichimoku cloud shows bearish pattern
cardano The Ichimoku cloud chart shows a predominantly bearish pattern. Prices are trading below the red cloud, highlighting continued downward momentum.
The red color of the cloud (formed by Senkou Span A and Senkou Span B) reflects bearish sentiment, as Senkou Span A is below Senkou Span B. This structure suggests that bearish pressure remains dominant in the market.
The purple line (Tenkan-sen) is below the orange line (Kijun-sen), reinforcing the bearish trend as short-term momentum (Tenkan-sen) lags behind the long-term baseline (Kijun-sen).
Additionally, the green Chikou Span is below the price and cloud, indicating that bearish conditions have been strong in the near term. Currently, the Ichimoku setup indicates ADA price Still in a bearish phase, there are no immediate signs of a trend reversal.
ADA Price Prediction: Key Support at $0.859
cardano price It is currently close to support at $0.859, which plays a key role in determining the asset’s next direction. Failure to hold this support could lead to further downside momentum with the next target at $0.76.
On the other hand, if cardano If the current trend reverses and gains upward momentum, a test of the $0.91 resistance is likely. A successful breakout of this level may allow ADA price Further rebound targets $0.99 and could exceed $1.
Disclaimer
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