Cardano has been moving downwards with the current price of $1.32 after forming its peak at $3.09 during the early days of September. In a month, the coin has declined 33%. However, the coin tried to regain its lost momentum during the last week of December but failed to supress the previous peak of $1.76.
If the ADA coin price supresses the downtrend line stretching over from September and the bulls closes the price above the trend line, a robust bullish momentum can be expected in the long run, and the coin can be expected to trail at tis highs. The coin may even fall to its support zone and then may begin to rise. In the last year, the ADA price has not even once broken the support line of $1 even though there has been formation of swing lows several times.
On the daily chart, the MACD line and the signal line are close to each other with the diminishing candles being formed in the histogram chart. The investors should wait for an entry. The RSI being at 43 is currently neutral. There hasn’t been any major move in volume bars and its neither in the favour of bulls nor bears. There has been remote price movement in the past few days thus no clear indication can be concluded about the upcoming price action.
On the long-time frame chart, the coin price is heading in vigorous bearish momentum from the month of October. In the past 3 months, the coin has marked a bearish movement. ADA is heading towards its support line with the formation of bearish candle. The volume bar is also in favor of bears. In the middle of December, there was a formation of bullish engulfing pattern but the price failed to mount up. Thus it can be expected that the price may decline to a minimum of $1.02 after which it may turn around towards its highs. According to long-term Cardano price prediction 2025, the ADA coin might hit the $5 mark due to strong fundamentals and certain integrations.
