Cardano's (ADA) price is currently under significant bearish pressure, with various technical indicators suggesting a strong downward trend. The ADX level has risen sharply to 36.76, indicating intense trend strength as sellers dominate the market.
The Ichimoku Cloud and EMA lines further support this bearish outlook. ADA trades below key resistance levels, with a recent death cross indicating continued weakness.
The Ichimoku Cloud shows ADA trading beneath the cloud, a sign of potential resistance for upward movements. The conversion and baseline lines sit above the price, showing sellers remain in control.
EMAs maintain a bearish configuration, with short-term EMAs below long-term ones, suggesting persistent selling pressure unless a reversal occurs.
ADA price may test support at $0.31 if the downtrend continues, but could aim for $0.36 resistance if sentiment shifts positively with buyers gaining control.
