Cardano (ADA) continues to trade above the support level of $0.50 after its decline on 22 June.
Cardano price long-term prediction: bearish
Since 30 May, the bears have continued to drive the ADA price lower, breaking below the moving average lines. Since 22 June, as reported by Coinidol.com previously, the downtrend has eased, forcing the altcoin to move in a range above the $0.50 support and below the moving average lines. The price of the cryptocurrency is bouncing above the $0.50 support level and below the 21-day SMA barrier.
Cardano will start its uptrend if it breaks above the 21-day SMA barrier. The positive momentum will continue until it reaches the 50-day SMA high or $0.66.
However, the uptrend will continue above the $0.50 support if the altcoin falls below the 21-day SMA barrier.
ADA price indicators analysis
Cardano is bearish as shown by the price bars falling below the moving average lines. The altcoin has reached $0.50, indicating that selling pressure has eased. Cardano will fall further if it is rejected at the 21-day SMA threshold. On the other hand, the uptrend will start above the 21-day SMA level.
Technical IndicatorsÂ
Key Resistance Zones: $1.20, $1.30, and $1.40Â
Key Support Zones: $0.90, $0.80, and $0.70
What is the next move for Cardano?
Cardano has been trading sideways since its crash on 22 June. The altcoin’s uptrend will depend on whether it breaks through the 21-day SMA barrier. On the downside, the $0.50 support level has not been breached since April 2025. Cardano will remain range-bound as long as the current support at $0.50 and the 21-day SMA barrier hold.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
