Cardano (ADA) Price Prediction Ahead Of The Chang Fork

The Cardano price is down a fraction in the past 24 hours to trade for $0.4373 as of 02:50 a.m. EST on trading volume that dropped 10%.

Cardano (ADA) price is showing a bearish bias as it trades below the trendline of the Fibonacci retracement indicator. This resistance has limited ADA's upside potential since March and could continue to do so amid the bearish market conditions.

The bearish outlook is further highlighted by the weakness in the Relative Strength Index (RSI), which is forming lower highs below the mean level of 50. This indicates a bearish divergence from the price action. The Moving Average Convergence Divergence (MACD) also supports the bearish narrative, as it has slipped below the orange band of the signal line, indicating that the short-term moving average is below the long-term moving average. This suggests weaker price action than historical averages, which could be interpreted by traders who follow MACD signals as an indication to consider selling positions or even shorting the asset. It indicates that downward momentum is stronger with the potential for further price declines.

With this bearish outlook, ADA price is likely to test the lower boundary of the market range at $41.12 before a potential pullback. In a worst-case scenario, if the aforementioned level fails to hold, the ADA token price could record a lower low below this threshold.

However, if investors view the dip as a buying opportunity, the resulting buying pressure could propel Cardano price higher. A sustained close above the trendline, confirmed by a flip of the 78.6% Fibonacci retracement level to a support level at $0.4923, would invite bulls on the sidelines.

Nonetheless, ADA bulls must drive Cardano price above the resistance level of $0.8199 to fully invalidate the bearish thesis. Such a move would constitute a climb of nearly 90% from current levels.

Meanwhile, as ADA bulls scan for new entry points, some meme coin enthusiasts are turning to WAI after its ICO sold out, raising over $5.2 million in funds raised. YouTuber Jon Trading dubs it the top AI crypto meme coin of 2024.

Promising Cardano Alternative

WAI is the native cryptocurrency of WienerAI, a hybrid token that is using its AI capabilities to try to emulate the success of canine meme coins such as DOGE and SHIB.

Its trading bot is a loyal companion that will help holders buy and sell crypto with predictive technology and an easy-to-use interface.

UPGRADE your trading strategy.

The WienerAI Trading Bot will be your trusted trading companion, leveraging AI to make savvy and predictive moves in a dynamic market. pic.twitter.com/uYCRAWRd2N

WAI token holders can earn passively through the platform's staking option, which offers an annual percentage yield (APY) of 211%. The WienerAI project is somewhat similar to an earlier coin called Scotty the AI (SCOTTY), which raised over $10 million in funds.

How staking your $WAI feels.https://t.co/g0LrikQz90 pic.twitter.com/3VneRo9wTq

Each WAI token currently sells for only $0.000717, but with a price increase coming in a little over two days, buy now for the best deal.

Buy WienerAI tokens on the official website here. You can use ETH, USDT, or a bank card.