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Cardano (ADA) Price Prediction for June 21

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Fri, 21/06/2024 - 15:33
Cardano (ADA) Price Prediction for June 21
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Most of the coins have not found a local bottom, according to CoinMarketCap.

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ADA/USD

The rate of Cardano (ADA) has dropped by 1.29% over the last 24 hours.

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Image by TradingView

On the hourly chart, one should pay attention to the local support level of $0.3796. If the daily bar closes far from it and closer to the resistance, there is a chance to see a test of the $0.39 zone tomorrow.

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On the bigger time frame, traders should focus on the candle's closure in terms of the nearest support level of $0.3772. 

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If sellers' pressure continues, there is a possibility of seeing a breakout, followed by a further drop to $0.3575.

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Image by TradingView

From the midterm point of view, the situation remains bearish. If the bar closes with no long wick and below $0.3793, the energy might be enough for a move to the $0.35 range.

ADA is trading at $0.3826 at press time.

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