Cardano (ADA) Price Prediction This Week: ADA fails to sustain above $1, will bears take over?

Nod the picture to enter live, the bull market will not go short

Key support level: $0.90

Key Resistance Level: $1.30

1. ADA falls below $1, sellers return

At the start of the week, markets were optimistic that ADA could sustain above $1 and challenge the $1.30 resistance. Since Tuesday, however, sellers regained dominance and managed to push the price below $1. As of now, the ADA price is $0.92.

2. Momentum reversal

Technical indicators suggest momentum has weakened. Both the daily RSI and MACD histograms are setting lower highs, suggesting market weakness that could push ADA into a deeper correction. The most important support currently lies at $0.90, and if this level fails, ADA could drop further to $0.80.

3. Purchase volume plummets

Since November, ADA purchases have dropped significantly, hitting new lows. This indicates that the market sentiment is bearish and the price action reflects this. ADA may face difficulty resuming its upward momentum until buyers return. Bulls need to defend the $0.90 support to avoid further losses.

Summarize

If ADA fails to sustain above $0.90, a deeper downward correction could be in store, with a possible target closer to $0.80. And if the $0.90 support holds, ADA may have a chance to challenge the $1 mark again.

Nod your head to enter live, the bull market will not be short-lived