·
Buyers are trying to keep Cardano (ADA) above the $0.50 support but are expected to face selling on every minor rally.
If the price turns down from the 20-day EMA ($0.65), it increases the risk of a break below $0.50. The pair could then drop to $0.45 and subsequently to $0.40. Buyers are expected to fiercely defend the $0.30 to $0.40 support zone.
The first sign of strength will be a break and close above the 20-day EMA. If that happens, the pair may climb to the 50-day SMA ($0.72). This is an important level for the bears to defend because a break above it signals a short-term trend change.