Cardano Pauses at $0.43 as Bulls Halt the Fall

Cardano (ADA) Price Long-Term Forecast: Bearish
The price of Cardano (ADA) stabilizes after falling to a low of $0.40 as bulls halt the fall. The bulls halted the drop above the $0.43 support and resumed consolidation. In the meantime, the altcoin is trading above the $0.43 support but below the moving average lines or the $0.55 resistance level. Currently, the ADA price has corrected upward but has been repelled by the 21-day SMA.

Cardano is sliding to retest its current support level of $0.43. The altcoin will revert to its previous low of $0.40 if the current support breaks. Otherwise, the price will remain in the $0.43 to $0.55 range. On the upside, if the ADA price rebounds and breaks above the moving average lines, the altcoin will resume its positive trend. The altcoin will return to its prior high of $0.80.

Technical Indicators:  
Major supply zones: $1.0, $1.05, $1.10
Major demand zones: $0.25, $0.20, $0.15

Cardano (ADA) Indicator Analysis
The price bars are below the moving average lines, implying a further decrease in the cryptocurrency. The moving average lines are sloping downward with a bearish crossover. The bearish signal has eased as the altcoin consolidates above $0.43.

What Is the Next Move for Cardano (ADA)?
Cardano is now trading inside a range above the $0.43 support level as bulls halt the fall. The price ranges from $0.43 to $0.53. The altcoin is trading modestly due to the presence of Doji candlesticks. Doji candlesticks symbolize traders who are unsure about the direction of the market. Meanwhile, the crypto signal is ranging as the altcoin keeps within a specific range.

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