Cardano Price Prediction Looks Bearish and This New Eco-Friendly Crypto Is a Better Alternative – Here's Why
Cardano (ADA) continues a month of tumbling price action that has seen a troubling -20% bleed out over the past 27 days.
With Cardano bulls currently battling to consolidate above a key support level at $0.35, ADA is trading at $0.36 (marking a 24 hour change of +1.81%).
As price action descends perilously - threatening to break lower trendline support, the increasingly bearish outlook faces a make-or-break moment.
And with Bitcoin seemingly intent on a return to $25,000, markets are on edge.
The MA200 remains steadfast in support for ongoing price action, providing some silver lining, however, the MA20 continues to act as localized topside resistance.
As for the strategic indicators, Cardano's RSI is slowly heating up in consolidation, now stood at 40.
This provides little reassurance, a rising RSI independent of upside price movements poses a serious red flag.
Worse still, this bearish outlook receives further confirmation from the MACD, which displays minor bearish divergence at -0.0036.
As price action threatens a complete breakdown, reclaiming position atop the MA20 forms the short-time frame upside target for ADA at $0.40 (a potential move of +9.5%).
Downside risk is significant here, with the nearest lower support level to be found at $0.30 (a possible -17.8% drop).
This leaves Cardano with a mediocre Risk: Reward ratio of 0.54.
A worrying reward structure, characterized by near twice as much risk.
As the bearish outlook on Cardano casts a murky cloud over ADA's t horizons, a beacon of hope shines bright in the form of an environmentally-conscious crypto project.
The Green Recycle-to-Earn (R2E) project, ecoterra, presents an enticing pre-sale opportunity that's not only promising in returns but also a stride toward a
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