Quotes ADA/USD are trading at 0.84 and continue to move within the fall and the downward channel. The moving averages indicate a short-term bearish trend for Cardano. Prices have gone down from the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop a rise in the value of the digital asset and a test of the resistance level near the 1.02 area. Where can we expect a rebound again and a continued decline in the Cardano rate with a potential target below the level of 0.40.
Cardano Weekly Forecast February 28 — March 4, 2022
A test of the trend line on the relative strength index (RSI) will come out in favor of the decline in ADA/USD quotes. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the coin’s fall option will be a strong increase in the value of the asset and a breakdown of the 1.50 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 1.75. With the breakdown of the support area and the closing of the coin quotes below the level of 0.75, we should expect confirmation of the development of a downward trend in Cardano.
Cardano Weekly Forecast February 28 — March 4, 2022 suggests an attempt to correct and test the resistance area near the level of 1.02. Where should we expect a rebound and a continuation of the fall of ADA/USD to the area below the level of 0.40. An additional signal in favor of the Cardano decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 1.50 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 1.75.
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