Cardano (ADA) Price Prediction for May 7
The Cardano price today is trading at $0.657, reflecting continued selling pressure after failing to reclaim the $0.68–$0.70 resistance band. Over the past 48 hours, ADA has gradually descended from the mid-$0.68s, signaling a loss of bullish control following its rejection at the 200-EMA on the 4-hour chart. This decline is closely aligned with the broader market’s pause, as traders now eye short-term support zones to gauge the next major move.
On the 4-hour timeframe, ADA remains trapped below all major exponential moving averages (20, 50, 100, 200), confirming a bearish short-term outlook. The Cardano price action has turned sideways-to-negative, with lower highs and lower lows since the beginning of May. The recent breakdown beneath the ascending trendline from April 21 now exposes ADA to further downside.
Why Cardano (ADA) Price Going Down Today: Indicators Flash Bearish Momentum
ADA’s momentum indicators reinforce the bearish view. The Relative Strength Index (RSI) is hovering around 35, indicating persistent selling without yet reaching oversold extremes. M…
The post Cardano (ADA) Price Prediction for May 7 appeared first on Coin Edition.
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Cardano (ADA) Price Prediction for May 7
The Cardano price today is trading at $0.657, reflecting continued selling pressure after failing to reclaim the $0.68–$0.70 resistance band. Over the past 48 hours, ADA has gradually descended from the mid-$0.68s, signaling a loss of bullish control following its rejection at the 200-EMA on the 4-hour chart. This decline is closely aligned with the broader market’s pause, as traders now eye short-term support zones to gauge the next major move.
On the 4-hour timeframe, ADA remains trapped below all major exponential moving averages (20, 50, 100, 200), confirming a bearish short-term outlook. The Cardano price action has turned sideways-to-negative, with lower highs and lower lows since the beginning of May. The recent breakdown beneath the ascending trendline from April 21 now exposes ADA to further downside.
Why Cardano (ADA) Price Going Down Today: Indicators Flash Bearish Momentum
ADA’s momentum indicators reinforce the bearish view. The Relative Strength Index (RSI) is hovering around 35, indicating persistent selling without yet reaching oversold extremes. M…
The post Cardano (ADA) Price Prediction for May 7 appeared first on Coin Edition.
Read More
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