Cardano (ADA) price has been under significant pressure, declining by 20% over the past 30 days. This downturn highlights ongoing bearish sentiment, with technical indicators suggesting the trend could intensify further.
Key metrics like the ADX and Ichimoku Cloud point to strengthening bearish momentum, while price levels near critical support and resistance zones remain pivotal for ADA’s short-term direction.
Cardano Downtrend Is Getting Stronger
Cardano ADX is currently at 19.65, up significantly from 12.85 just two days ago. This sharp increase indicates that the strength of ADA’s current trend is beginning to gain traction, even though it remains in a downtrend.
The rise in ADX suggests that the bearish momentum could be regaining some control, making it crucial for traders to watch for further developments in the coming sessions.
The Average Directional Index (ADX) measures the strength of a trend, whether upward or downward, on a scale from 0 to 100. Values above 25 indicate a strong trend, while readings below 20 suggest weak or non-existent trend strength. With ADA’s ADX now at 19.65, the metric points to a potential shift away from a period of weak trend activity.
However, as ADA remains in a downtrend, this rising ADX could signal an intensification of bearish momentum in the short term, raising the possibility of continued price declines unless support levels hold firm.
Ichimoku Cloud Shows a Bearish Setup
Cardano Ichimoku Cloud chart displays a predominantly bearish setup. The price is positioned below the red cloud, highlighting ongoing downward momentum.
The cloud’s red color (formed by Senkou Span A and Senkou Span B) reflects a bearish sentiment, as Senkou Span A is below Senkou Span B. This structure indicates that bearish pressure remains dominant in the market.
The purple line (Tenkan-sen) is below the orange line (Kijun-sen), reinforcing the bearish trend, as the shorter-term momentum (Tenkan-sen) lags behind the longer-term baseline (Kijun-sen).
Additionally, the green lagging span (Chikou Span) is below both the price and the cloud, signaling that bearish conditions have been consistently strong over recent periods. For now, the Ichimoku setup suggests that ADA price is still in a bearish phase, with no immediate signs of a trend reversal.
ADA Price Prediction: A Key Support at $0.859
Cardano price currently has a close support level at $0.859, which plays a critical role in determining the asset’s next direction. If this support fails to hold, it could lead to further downside momentum, with the next target at $0.76.
On the other hand, if Cardano reverses its current trend and gains upward momentum, it could test the resistance at $0.91. A successful breakout above this level could allow ADA price to rally further, with targets at $0.99 and possibly surpassing $1.
Disclaimer
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