Is $0.25 Next for ADA? Three Key Things to Watch (Cardano Price Analysis)

With buyers absent, Cardano cannot reverse the downtrend.

Key Support levels: $0.25

Key Resistance levels: $0.28

1. Key Support Lost

Unfortunately for ADA holders, the price did not manage to hold above the key support at 28 cents. This has now turned into resistance, and the current momentum is favoring sellers.

2. Bearish Momentum Intensifies

With a new lower low, the bears appear to have full control of the price action, which could lead ADA into much lower levels. The most significant support right now is found at 25 cents.

3. RSI Approaching Oversold Area

Since mid-July, Cardano has been in a downtrend which could end once the daily RSI reaches the oversold area at under 30 points. There is still plenty of space for this indicator to fall before that, however.

Chart by TradingView## Bias

The bias for ADA is bearish.

Short-Term Prediction for ADA Price

With the downtrend intact and momentum favoring sellers, ADA cannot hope for a reversal at this time. The price will need to become much more attractive before buyers return. This could very well be at 25 cents.