Cardano crashes by 15 % weekly, how deep can it drop? (Ada price analysis)

Cardano crashes by 15 % weekly, how deep can it drop? (Ada price analysis)

Since the market volatility returned, Ada was not spared and was red.

Important support levels: $ 0.30

Important resistance level: 0.33 $

The Cardano price has been 15 % of the Cardano since Monday, when the SEC Binance sued. Ada fell below 33 cents, which now acts as a resistance. The current support is 30 cents and the buyers seem to have disappeared.

Adausdt_2023-08_15-24-10

trade volume: The sales volume increased dramatically earlier this week. The price reacted quickly and crashed.

rsi : The daily RSI fell to 30 points and almost reached the oversold area. That is pessimistic.

macd : The daily MacD was bullish last Sunday. Since then it has become bear and the current dynamic is negative.

Adausdt_2023-08_15-23-56 Diagram of Tradingview

bias

The tendency for Ada is bearish.

Short-term forecast for the ADA Prize

Since the buyers fail to contain the sale, Ada is in a sharp decline. The hope is that the support of 30 cents manages to stop the current attack and to make some relief. The tendency is bearish and a test of important support seems likely.

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