Today, the price of Cardano (ADA) is moving higher while in a sideways trend. At the time of writing, the cryptocurrency is trading at $2.10. Buyers are trying to push the altcoin above the moving averages.
The price of Cardano (ADA) has continued its sideways movement as the cryptocurrency maintains its price levels of $2.13 and $2.14. It is unlikely that Cardano will develop a trend as long as the small body candlesticks dominate the price action.
Cardano (ADA) has dropped below the 21-day moving average line, indicating a possible downward move for the cryptocurrency. Today, Cardano has fallen to a low of $2.10 and is approaching the previous low of $1.90.
Last week, the price of Cardano (ADA) continued its downward trend as the altcoin fell to a low of $2.09. Cardano's recent decline is due to the failure of buyers to sustain bullish momentum above resistance at $2.40.
After the downward impulse on September 21, the price of Cardano (ADA) has continued its downward correction. The altcoin is trading in the downtrend zone as buyers fail to keep the ADA price above the moving averages.