Cardano Price Analysis: Following a 10% Weekly Crash, ADA Bulls Defend $2 Support


DA/USD – Buyers Fight To Protect $2

Key Support Levels: $2.05, $2.00, $1.88. Key Resistance Levels are: $2.21, 2.33, and $2.40

ADA found support at $2 today after rebounding from the.618 Fib. While the cryptocurrency is still at 10%, $2 seems to be a good threshold for bulls.

Last week, the cryptocurrency found strong support at $2.40 but then fell below it over the weekend. Yesterday’s market capitulation saw ADA fall below the $2.30 MA at the 50-day mark and continue to decline until it reached the $2.618 Fib support level. It did drop below $2 today, dropping as low as $1.91 but quickly rebounded.

Daily Chart ADA/USD Source: TradingView.
Short-Term Price Prediction DA-USD

The first support is at $2.05 (.618 fib). The next support is $2.00 (.618 Fib Extension), $1.88 (downside 1.14 Fib Extension), $1.80 (1-day MA) and $1.75 (2.786 Fib).

The first resistance is at $2.21 (bearish.236 Fib). The next resistance is at $2.33 (50 day MA), $2.40 (20-day MA), $2.55 (20-day MA), and $3.70 (bearish.618 Fib).

The market momentum is controlled by the sellers, so the RSI has fallen below the midline.

DA/BTC Market Support AT 4800SAT

Key Support Levels: 5000 SAT, 4710 SAT, 4600 SAT. Key Resistance Levels are 5050 SAT and 5400 SAT. 5800 SAT.

Yesterday, ADA found support at 4800 SAT which allowed the market rebound and to break above 5000 SAT. At the beginning of the weekend, the coin was below 5000 SAT and fell further until it reached 4800 SAT.

Today’s bounce allowed ADA to climb above 50-day MA and break above 5000 SAT. It is currently battling for the May 2021 highs.

ADA/BTC Daily Chart. TradingView.
DA-BTC Short-Term Price Prediction

The 5050 SAT (May 2021 highs) is the first resistance. The 5400 SAT (20 day MA), 5800 SAT and 6000 SAT follow.

The other support is at 5000 SAT (5-day MA), 4715 SAT (0.5 Fib), 4600 SAT (4600 SAT), and 4350 SAT(.618 fib & 100 day MA)

As the bears gained control, the RSI fell below the midline. The bearish pressure has begun to ease with today’s rebound.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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