ADA Price Prediction: RSI Bearish Divergence Indicates $0.90; Time To Exit?
ADA price fell for the second straight day in a row. The price opened higher but failed to sustain the gains and flipped toward the lower levels.
- ADA price is under intense selling pressure.
- Expect more downside if the price slipped below the 50-day EMA.
- Negative RSI divergence could hint at more losses.
ADA price trades on a lower note
On the daily chart, the ADA price continues to trade lower with above-average volume. The price makes ‘Double Top’ near $1.24, which is a bearish reversal formation. In two days the price fell nearly 10%. Under the selling pressure, ADA approaches the 50-day EMA (Exponential Moving Average) at $1.04.
A break below the moving average could intensify the selling toward the psychological $1.0 level. Furthermore, investors could collect the liquidity around the demand zone at $0.90.
On the contrary, if the price sustains the lower level then there is a probability of a reversal in the price. On moving higher, the immediate first upside could be found at $1.20 followed by the recent highs near $1.25.
In addition to that, a continuation of the buying momentum would meet the critical upside hurdle at the critical 200-EMA at $1.29. Next, the bulls would move toward the horizontal resistance level at $1.40.
As of press time, ADA/USD is trading at $1.11, down 4.88% for the day. The ninth-largest cryptocurrency by market cap is holding the 24-hour trading volume at $1,500,753,167 with a loss of 17% according to the CoinMarketCap.
Technical indicators:
RSI: The daily Relative Strength Index shows bearish divergence since March 23. The indicator approaches the average line at 50. If the indicator slips further it could ignite more selling in the asset.
MACD: The Moving Average Convergence Divergence diverges toward the midline with an advancing bearish momentum.
- Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms
- Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder
- BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF
- Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?
- Breaking: U.S. Government Shuts Down After Congress Fails to Pass Funding Bill
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
