Forecast for Cardano (ADA) Prices This Week

Cardano (ADA) failed to maintain its price above 60 cents, indicating a need for lower support. The key support levels currently stand at $0.50 and $0.45, while the resistance levels are $0.64, $0.90, and $1.3. ADA's price has dropped below 60 cents, currently standing under $0.58, and seems unlikely to regain its previous position. The drop indicates the potential for a fall to the $0.50 support level.

The daily Relative Strength Index (RSI) indicates increasing bearish momentum as it falls once more after bouncing out of the oversold zone. Despite brief bounces, sellers are dominating the market, causing higher highs and dictating the price direction. A lower low on Sunday indicates a bearish signal. The hope is that the 50-cent support level will stem the continuing selloff.