Cardano price prediction: ADA/USD target $2.5

TL;DR Breakdown

• Cardano price prediction is bearish today.
• ADA-USD is trading at $2.14.
• The bears have regrouped and are resuming their assault.

Cardano price prediction is bearish today. The bears have breached yesterday’s late high of $2.24, and there is no sign yet that they will stop trying to break the $2.15 support level again in the coming hours or days. As such, we anticipate a continued bearish momentum for ADA/USD later today.

ADA/USD price movement in the last 24 hours: Cardano sets lower high at $2.24

The Cardano price is so low today because the $2.15 support level has been breached again, as the bears try to claw their way back in the coming hours/days. At the present moment, ADA/USD is trading at $2.14.

Cardano’s price prediction is negative today as a local lower high formed late yesterday, resulting in a little drop overnight. As a result, we anticipate bearish momentum to continue later today, with the $2.15 support target being breached once again.

ADA/USD is currently trading at $1.8 billion after recording a 24% price surge. Meanwhile, the market capitalization is at $72 billion ranking ADA 3rd in the overall market.

Cardano 4-hour chart: ADA to test $2.15 support again?

Cardano’s price has continued to fall on the 4-hour time frame, with the $2.15 support point eyed as a potential target next.

ADA/USD 4-hour chart. Source: TradingView

Cardano price action is now confined in a more restricted consolidation range. After making two higher lows and one lower high during the previous weeks, XRP/USD medium-term trend is uncertain.

On the four-hour time frame, ADA/USD is trading in a narrow range. Yesterday’s higher low of $2.02 has tested the resistance at $2.13, which was broken to trigger further downsides later. The price now keeps trending below a significant resistance level of $2.30. It will likely act as a barrier to any bullish reversal attempts.

 ADA/USD pair seems poised for further declines in the short term. Based on the bearish momentum visible on both 4-hour and daily charts. However, if it can break above $2.30, it should have enough momentum to move above the critical resistance level of $2.33-35 and rally towards the next barrier at $2.50.

On the downside, if ADA/USD breaks below the support zone of $1.95-$2.10 levels, a slide to a major support level of $1.60 can be expected, which will likely act as a strong support level in the medium term.

Cardano Price Prediction: Conclusion 

Today’s Cardano price prediction is pessimistic, as a subsequent lower high was established late yesterday, with another fall overnight. As a result, we anticipate ADA/USD to continue falling over the next 24 hours and perhaps break below its nearest support at $2.15.

Also, read our Chainlink and Solana price predictions.