Cardano has fallen in a time span of two and half months. If the ADA price continues to slump, it might cross its previous support level at around $1.80 in the near term. ADA has been rising since the beginning of the year and has given massive returns to its investors from January to September. ADA is currently moving downwards with a price fall from above $3 to the current price of $1.96.
In the daily chart, the coin is trading under downside momentum, with the indicators being bearish. There is a formation of enormous bearish candles giving pressure to the downside flow of price. The price of Cardano is currently trading towards its previous support. The coin is getting tested continuously but is failing to regain its momentum.
In the above chart, the MACD line being below the signal line gives a bearish indication. The investors should wait for a while before entering the trade. The price may start to rise higher if it continues to move up following the up-trend line. If the price ascends, the minimum target can be expected to be $2.51, and if the price descends, the minimum level should be $1.42.