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May 18 Cardano (ADA) Price Forecast

Hello crypto enthusiasts! Let’s dive into the latest updates in the world of cryptocurrencies, as reported by CoinMarketCap.

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Exciting Updates on ADA/USD

Let’s talk about Cardano (ADA) – its price has seen a slight dip of 1% in the past 24 hours.

Image source: TradingView

Looking at the hourly chart, ADA seems to have settled below the local support level of $0.4789. If this trend continues, we might see a further decline towards the $0.47 mark tomorrow.

Image source: TradingView

Unfortunately, the bulls couldn’t sustain the momentum following yesterday’s positive closure. The low volume indicates that buyers may not be ready to take charge just yet.

Stay in the Loop

There’s a possibility of a correction towards the $0.46-$0.47 range in the upcoming week given the current scenario.

Image source: TradingView

Looking ahead, it’s crucial to monitor the weekly bar closure around the $0.4759 level for potential bullish movements towards $0.50 by the end of the month.

As of now, ADA is trading at $0.4779.


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