2021-10-20 17:32:16

ADA Price Prediction – Cardano Is Squeezing to Downside



Indeed a tough week for Cardano users. The ADA price has made multiple attempts to accomplish a bullish momentum. However, it seems to be failing in the race. With recent attempts of ADA price to break above $2.40 and failing, Cardano is starting to squeeze to the downside. With low lows and low highs, ADA is not doing very well in the market right now. Any break below $2 would possibly shift the momentum of the ongoing trend since May. Let’s have a look at the ADA price prediction to see what’s coming next.

$1.89 Can Be Pivotal

The ADA price has been making several attempts to recover. Previously, the market was quite favourable for Cardano throughout August. While this may be valid, the price fell down to opposite putting ADA holders in a lot of trouble. With lower highs and lows hitting $2, the battle between the bulls and bears can be highly pivotal at $1.89.

No Bulls, No Bears?

ADA price has been sticking to the $1.89 mark since May. However, in the current picture of the crypto market, it seems like this pivotal value can form a vacuum. This means that while the fight can be pretty tight between the bulls and the bears at $1.89, neither bulls nor bears will attempt to near the zone.

It is important to mention that a break below $1.89 can turn out to be quite violent. While any point above this level may favour the bulls to find a new resistance. Bears, in this case, may wash out with ADA testing at $2.40 to the upside.

In perfect case scenario, a test of $3.16 with Bitcoin rallying towards new all-time high can be favourable for ADA.

Please note that the ADA price prediction is based on the technical analysis of crypto market. We do not offer any financial advice to crypto users.

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