Analysis of Cardano's price
Cardano
ADA
tickers down
0.9699 €
remains weak, and the bears are trying to drive the price to strong support at 0.76 dollars.
The 20-day exponential moving average (0.92 dollars) with a downward slope and the RSI in negative territory indicate that the bears have the advantage. They are likely to sell on any bounce towards the 20-day moving average. If the level of 0.76 dollars is broken, the ADA/USDT pair could fall to the target of the H&S pattern at 0.50 dollars.
If buyers want to avoid the drop, they will have to push and maintain the price above the neckline of the bearish pattern. If they manage this, some aggressive bears may close their positions, pushing the pair towards 1.20 dollars.
