Cardano Price Forecast – ADA Down 1%, Time to Buy the Dip?
Cardano has continued its sideways movement in the last 24hrs, first seeing a near 2% rise before sharp sell offs saw the coin twice dip to $0.36. ADA is now 1% down in the last 24hrs. The coin found strong support at $0.36, but its Relative Strength Index (RSI) is now just 27 on the 1-day chart - only XRP and XLM have a lower score among the top 100 coins, and it appears to be heading for 'Weak' territory. Trading volume increased nearly 20% to $415 million. Cardano: Short-Term Opportunity? Cardano (ADA) fell to a 21-month low last week after the release of the US Consumer Price Index. While other coins rebounded after the inflation news was revealed, ADA has struggled all weekend and has been ranging between $0.36 and $0.38. The token, which is down 70% in 2022 and nearly 90% from its all-time high, has its next line of support at $0.35 and its next line of resistance at $0.40. As CryptoNews revealed on Monday, the coin is showing a falling wedge pattern o...