ADA About to Hit $0.30, Can Bulls Save The Day? (Cardano Price Analysis)
![ADA About to Hit $0.30, Can Bulls Save The Day? (Cardano Price Analysis)](https://cryptoinvestment.at/wp-content/uploads/2023/03/ada-about-to-hit-0-30-can-bulls-save-the-day-cardano-price-analysis.png)
Cardano had no relief since the support at 35 cents was broken to the downside. With buyers absent, the price has only one direction at the moment.
Key Support levels: $0.30
Key Resistance levels: $0.35
ADA is quickly approaching the key support at 30 cents. Bears have total control of the price action, which has remained bearish since mid-February. The current resistance is at 35 cents, and it will likely not be tested until the cryptocurrency finds support.
![ADAUSDT_2023-03-07_16-16-44](https://cryptopotato.com/wp-content/uploads/2023/03/ADAUSDT_2023-03-07_16-16-44.png)
Trading Volume: The steady sell volume has pushed the price lower almost daily. Buyers are nowhere to be seen at this time.
RSI: The daily RSI is at 34 points and may soon reach the oversold area at under 30 points.
MACD: The daily MACD remains bearish, with the moving averages continuing to fall. There is no sign of a possible reversal yet.
![ADAUSDT_2023-03-07_16-17-02](https://cryptopotato.com/wp-content/uploads/2023/03/ADAUSDT_2023-03-07_16-17-02.png)
Bias
The bias for ADA is bearish.
Short-Term Prediction for ADA Price
The current price action remains bearish, and it’s important to see how the market will develop in the coming week following a few important macroeconomic events.
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