NewsletterADA Price Prediction: RSI Bearish Divergence Hints At $1.10 Next
ADA price opened lower and continued to hover near the lower range. For the past two sessions, the upside is capped near $1.25. The current price action suggests some retracement before the continuation of the upside momentum.
- ADA price trades in a very tight range with no meaningful price action.
- Bearish RSI divergence on the 4-hour indicates impending selling momentum,
- The upside is capped near $1.25 on the bigger time frame.
As of publication time, ADA/USD is trading at $1.91, up 0.25% for the day. The seventh-largest cryptocurrency by market cap is holding the 24-hour trading volumes at $1,655,837,661 with a decline of more than 275%.
ADA looks for a retracement
On the 4-hour chart, the ADA price is consolidating near the $1.25 level as it remains pressured to cross above the upside barrier. The formation of consecutive candlesticks indicates indecision among traders. A move below $1.16 might create a short-term bearish impulse in the asset.
On moving downward, the price will meet the first lower target at the 50-day EMA (Exponential Moving Average) at $1.10.
A resurgence in selling pressure would result in the break of $1.10 on the daily basis. In that scenario, the ADA price would dive straight to the psychological $1.0 level.
On the contrary, if the price is managed to sustain the sessions high then it will continue with the prevailing trend. Investors would find an immediate upside target at $1.30.
Technical indicators:
RSI: The 4-hourly Relative Strength Index shows a negative divergence in accordance with the price since March 24. Any downtick in the indicator would strengthen the bearish outlook for the price.
MACD: The Moving Average Convergence Divergence still holds above the mid-line but with the receding bullish momentum.
Trading volume: The On-balance volume indicator slips below the overbought zone suggesting the supply pressure with an increase in the price.
- Breaking: Bitcoin Gains State Adoption as Texas Becomes First U.S. State to Purchase BTC
- Rate Cut Advocate Kevin Hassett Emerges as Trump’s Top Pick For Fed Chair
- Breaking: Crypto Platform Polymarket To Operate As A U.S. Exchange as CFTC Issues Key Order
- SEC Panel to Discuss Regulatory Changes for Tokenized Equities on Dec. 4
- December Fed Rate Cut Odds Surge To 85% Following PPI Release
- Monad Price Prediction Amid Mainnet Debut — Is a Bigger Breakout Ahead?
- Chainlink Price Could Soar to $15 as ETF Listing Nears
- Will Cardano Price Rebound as Hoskinson Hints at a TVL Surge After Midnight Launch?
- Ethereum Price Holds $2,900 Amid Massive ETF Inflows and BlackRock Purchase
- Sui Price Surges 12%: Could This Mark the Start of a Bullish Trend?
- Is Bitcoin Price Set for Major Recovery as December Rate Cut Chances Hit 80.9%?
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.
Premium Partners
