ADA Bears in Control: Discover Why the Latest Analysis Predicts Further Decline!

The $ADA price has shown notable bearish momentum on the 4-hour chart, with closing prices trending downward from $0.4492 to $0.4314. This decline is reinforced by the positioning of the Exponential Moving Averages (EMAs). The 9 EMA ($0.4449) has consistently stayed below the 20 EMA ($0.4516), indicating a bearish crossover and confirming the ongoing downtrend.

The Moving Average Convergence Divergence (MACD) indicator also supports this bearish sentiment. The MACD line has remained below the signal line, and the histogram values suggest increasing bearish momentum, with the most recent value at -0.0016. This indicates a deepening downward pressure.

Furthermore, the Relative Strength Index (RSI) is fluctuating between 38.2 and 44.1, showing that ADA is currently in the bearish territory. An RSI below 50 typically signals that the asset is losing strength, making it less attractive for buyers at this stage.

#Cardano is currently testing a critical support level at $0.4285. If this level holds, it could act as a foundation for a potential rebound. However, a breakdown below this level could accelerate the decline towards the next significant support at $0.3868, with a further potential dip to $0.3824 if bearish pressure continues.

On the upside, the first resistance level to watch is $0.4522. Breaking above this level could challenge the bearish trend and pave the way for a test of the higher resistance at $0.4615. A successful breach of $0.4615 could target the next major resistance at $0.4635, signaling a potential trend reversal. #altcoins #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.