Cardano's (ADA) price has continued to increase, reaching a maximum of $0.93.

Cardano price long-term forecast: bullish

The altcoin, however, has dropped below the $0.90 support level, reinitiating downward pressure. If the bulls had maintained their positive momentum the ADA would have reached its next obstacle at $1.17.

Today, ADA has fallen towards the next level of support at $0.84. If the altcoin holds its current position and retraces, the positive trend will continue. If the current support is broken, then selling pressure could increase up to $0.77. Cardano is currently trading at a low price of $0.86.

Analysis of ADA Price Indicators

Cardano price bars are now well above the moving averages. A bullish crossover is present between the moving-average lines. This is a good sign. Moving average lines slope northwards which indicates an upward trend.

Cardano's price is trapped between moving average lines in the 4-hour chart. It could be forced to move within a range.

Technical Indicators

Key resistance zones: $1.20 $1.30 and $1.40

Support Zones for Key Areas: $0.90 ($0.80), $0.80 ($0.80), and $0.70 ($0.70)

What's the next step for Cardano cryptocurrency?

Cardano tried to rally and break above the $0.90 barrier two times, but it was stopped. The ADA price has been locked between $0.84 and $0.90. The crypto signal is still unfavorable and ADA's expected price to continue falling.

Disclaimer. Disclaimer. This analysis and forecast is the personal opinion of the author. These are not recommendations to buy or trade cryptocurrency, and should not be seen as endorsements by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.