Cardano price prediction: bears in control, will $0.145 support hold?

Cardano price started the day at $0/172280 with slight bearish momentum that has defined the price movement across the last day. The price started the day with a slight downwards movement that only grew sharp in later hours. Currently, Cardano price is $0.157760 showing an 8.43 percent decline from the day’s opening price.

Cardano price across the last 24 hours

Cardano price started the day with slight bearish momentum as the price action observed wave-like movement causing the price to descend. The price declined to the $0.1650 level before finding a support level. However, despite the bulls trying the charge above, the price only rose to $0.17620 before sharply declining.

The price crashed to $0.1430 before finding a strong support level. The level turned out to be the day’s lowest as the price rebounded sharply. For the past several hours, the price has been consolidating between $0.153 and $0.160.

On the technical indicators, the MACD shows little to no momentum on both sides as the two EMAs remain converged. Meanwhile, the RSI is also neutral but leans towards the underpriced territory.

The price action can be expected to continue consolidation for the next few hours with potential downwards movement. If the current support breaks, the next support lies near the $0.120 level. Read More

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