Forecast $ADA : corrections are inevitable
As of the time of writing this analysis, ADA is trading at $0.899, having decreased by just under 2% in the last 24 hours.
At the same time, the position of the exponential moving averages (EMA) suggests that the altcoin may continue to decline. In the chart below, it can be seen that the Cardano price line has fallen below the 20-day EMA (blue) and is almost aligned with the 50-day EMA (yellow).
Such a picture on the chart signals that in the near future, ADA risks losing support at the level of $0.88. If this happens, the cryptocurrency will drop to $0.77, and in the most bearish scenario — to $0.55.
However, if activity in the Cardano network increases, then the bearish forecast may be canceled. In such a scenario, the token price will have a chance to soar to $1.33.#2024To2025 #2024Crypto #2024withBinance
