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ADA Stopped at $0.40, is a Crash Imminent? 3 Things to Watch Today (Cardano Price Analysis)
After increasing in price by over 30% since the start of November, ADA appears to have found a local top.
Key Support levels: $0.35, $0.32
Key Resistance levels: $0.38
1. ADA Rally Comes to a Pause
The resistance at $0.38 has put a stop to the current rally, at least momentarily. Sellers have returned and they appear eager to take some profit after a fantastic performance by ADA this month.
Should this pullback turn into a more significant correction, then Cardano could fall to the key supports at $0.35 or even lower to $0.32. Regardless, a correction is normal considering this most recent rally.
The RSI is showing a clear bearish divergence on the daily timeframe. This support a more significant pullback before ADA can explore higher levels.
The bias for ADA is bearish right now.
Short-Term Prediction for ADA Price
The price could fall to $0.35 or lower before buyers become interested again. Best to allow this correction to pass before considering your next move.