Cardano (ADAUSD) price recorded a decline in its latest intraday trading, after being affected by the earlier break of a short-term corrective bullish trendline. With its recent drop, the price has moved below its 50-day SMA, which increases the surrounding negative pressure, especially after the Stochastic indicator managed to ease part of its oversold conditions, giving the price room to record further losses in the near term.
Therefore we expect the cryptocurrency price to decline in its upcoming intraday trading sessions, as long as resistance at $0.2780 remains intact, targeting the first support level at $0.2485.
Today’s price forecast: Bearish
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