ADA Price Drops Below $0.50 as Buyers Strongly Prefer TAMA

According to the daily chart, the Cardano price prediction slides below the moving averages as the coin trades below the $0.80 level.

Cardano Prediction Statistics Data:

Cardano price now – $0.46
Cardano market cap – $15.9 billion
Cardano circulating supply – 34.1 billion
Cardano total supply – 34.8 billion
Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.63, $0.65, $0.67

Support levels: $0.35, $0.33, $0.31

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ADA/USD is heading towards the south. It is likely to cross below the 9-day and 21-day moving averages. However, as the bears step back into the market, the Cardano price is likely to lose momentum below the moving averages along with a potential price surge.

ADA May Follow the Downtrend, Buyers Strongly Prefer TAMA

The Cardano price is moving sideways as the coin the bears take charge of the market. Meanwhile, a positive movement back above the 9-day and 21-day moving averages is needed to correct the immediate bearish pressure and take the coin back on the recovery trend. Once this is out of the way, the upside is likely to gain traction with the next focus at the resistance levels of $0.63, $0.65, and $0.67.

On the downside, the support level of $0.45 is likely to be broken, once this is done, the sell-off could gain traction with the next focus at the nearest support level of $0.40. Therefore, if these levels are broken, the downside pressure may increase and the next support is created by the critical supports at $0.35, $0.33, and $0.31 as the technical indicator Relative Strength Index (14) nosedives below the 50-level.

Against Bitcoin, the Cardano price is following a downward trend as revealed by the technical indicator, the signal of the Relative Strength Index (14) is seen sliding towards the 60-level. Meanwhile, a low swing could push the coin to the support level of 2300 SAT and below.

ADABTC – Daily Chart

On the other hand, a rebound may occur if the buyers could defend the 2500 SAT and push it above the upper boundary of the channel which could help the coin to hit the potential resistance level of 2700 SAT and above.

Tamadoge is combining the fun of Tamagotchi with the play-to-earn mechanics made possible with NFT technology applied to gaming. Earlier this week, the project completed the sixth phase on the project in which the coin was priced from 1 USDT to 44 TAMA. The price has since increased, to 1 USDT buying 40 TAMA. There will be nine tranches of token sales in all, with the price increasing at each stage. 711 million tokens have been sold so far out of a total of 1 billion that is available in the presale out of a total supply of 2 billion.

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