Cardano (ADA) Price Long-Term Forecast: Bearish
Cardano (ADA) has recovered positive momentum as it stalls below the $0.2850 high. Since August 17, ADA/USD has been range-bound between $0.24 and $0.27. At the time of writing, ADA is trading at $0.28. The altcoin is trading in the overbought region as it nears a high of $0.30. The upward trend is currently being rejected at the $0.30 resistance level.
If the resistance at $0.30 is broken, Cardano will surge to a high of $0.36. The altcoin will enter the range-bound region if it faces rejection at the $0.30 high. ADA/USD is now trading below its high of $0.2850.