ADA was rejected by the $0.90 resistance. Can buyers push back?
Key Support levels: $0.77, $0.70
Key Resistance levels: $0.90, $1
1. Resistance Rejects Buyers
This week, ADA made an attempt at breaking the $0.90 resistance, but was rejected, and the price is now hovering under this key level. This failure to move higher can be interpreted as bearish and may encourage sellers to push this cryptocurrency back to its support at $0.77.
2. Momentum is Stalling
With higher price levels out of reach, Cardano is consolidating under the aforementioned $0.90 level. The asset action also appears to be forming a pennant that could indicate a pause in the current uptrend until buyers gather the strength necessary to break above the key resistance.
3. RSI Lower Highs
Since July, the RSI has been making lower highs. This is a clear downtrend, which highlights a bearish divergence when compared to the price that made a higher high in August. That’s a warning signal that could take ADA into lower price levels if bulls fail to reclaim $0.90 soon.
The post Cardano (ADA) Price Predictions for the Week Ahead appeared first on CryptoPotato.
