#cardanopriceprediction

Cardano price prediction

Cardano

ADA

$0.5975

turned down from the 20-day EMA ($0.66) on Monday, indicating a negative sentiment where the bears are selling on relief rallies.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are trying to defend the $0.60 level, but if the bears prevail, the ADA/USDT pair could descend to the solid support at $0.50. Buyers will attempt to arrest the fall at $0.50 because if they fail in their endeavor, the pair could plummet to $0.40.

If buyers want to prevent the downside, they will have to swiftly push the price above the 50-day SMA ($0.71). If they do that, the pair could rise to the downtrend line, where the bears may pose a substantial challenge.