Cardano (ADA) Price Prediction for May 28
Emily HarrisCan bounce back of Cardano (ADA) start soon?[...]
Cardano (ADA) Faces Bearish Pressure as Prices Dip
According to the latest market data from CoinStats, the cryptocurrency market is experiencing a downturn, with most coins trading in the red. Cardano (ADA) is no exception, showing a 2% price decline since yesterday.
On the hourly chart, ADA has once again tested the $0.7460 support level. If buyers fail to regain momentum, we could see a breakdown that may push prices toward the $0.74 range.
From a broader perspective, ADA remains distant from its key levels. Traders should monitor the $0.74 interim level closely. A break below this point could lead to a test of $0.7171 support by week's end.
The mid-term outlook remains bearish. Should ADA close below $0.7171, we might see further downside toward $0.65.
As of now, Cardano is trading at $0.7429.
