ADA price prediction is bearish as areas between $1.20 and $1.15 beckon. IOMAP Model reveals Cardano faces massive resistance upwards. The MACD and RSI Indicators show ADA to remain bearish in the near-term. ADA price action has been uneventful over the couple of days with the upside capped at $1.316 while a crucial support is revisited at $1.234. Cardano price prediction appears bearish after shedding almost 10% on Tuesday from a high of around $1.410 traded on Monday to closed the day at $1.27. Let’s see what Cardano’s technical outlook appears like. ADA Price Faces Massive Resistance Upwards At the moment, the technical outlook indicates that bears are in control of Cardano. A look at the four-hour chart reveals that the Cardano price has been consolidating over the last few days as traders waited from a significant breakout in either direction. At the time of writing, ADA price hovers just above the $1.250 psychological level at around $1.259. Note that Cardano price must break past the 200 Simple Moving Average (SMA) which is acting as an immediate resistance at $1.287 to break out of the indecision phase. Get FREE Crypto Signals Now! However, ADA’s journey upwards is curtailed by a number of hurdles. For example, even if the green token slices through the 200-SMA resistance, it will be met a major resistance level at around $1.31 and $1.35 respectively. ADA Price Four-hour Chart The Into/Out of the Money Around Price (IOMAP) model by IntoTheBlock confirms that ADA is facing significant resistance upwards. The immediate major resistance zone is found between the $1.32 and $1.38 price range. At this range around 204,000 addresses previously bought approximately 2.79 billion ADA. Therefore, slicing through these resistance zones will be an uphill task for ADA price bulls. Cardano Price IOMAP Model The IOMAP model also shows that ADA’s immediate support at $1.234 is very week. It is within the range between $1.23 and $1.24. where only about 3,940 addresses previously bought approximately 160 million. Which Way ADA? Therefore, bulls must defend the current support at $1.234 because a session closure below this level could see ADA price drop further to the $1.21 which coincides with the 100-SMA. Further drop could see Cardano explore the $1.20 psychological level or the $1.50 major support level. The Moving Average Convergence Divergence (MACD) indicator on the four-hour chart accentuates this bearish outlook. This was validated when the MACD line (blue) crossed below the signal line (orange) earlier today sending a sell crypto signal. Moreover, the Relative Strength Index (RSI) validates this bearish as it crosses the midline towards the oversold zone. Are you looking to buy Cardano? This guide on crypto trading platforms is a good place to start. Looking to buy or trade ADA now? Invest at eToro! Buy Cardano Now Capital at risk Nancy Lubale Nancy Lubale Crypto Analyst and Technical Writer Nancy is a successful crypto analyst and content writer with many years of writing experience finance and blockchain fields. Nancy has been producing quality content for websites in the cryptocurrency industry including Krptotrends. She is a Certified Cryptocurrency Expert (CCE) from Blockchain Council. View All Post By Nancy Lubale Crypto News share Read Next DOGE Price Analysis: Dogecoin Faces Massive Resistance Upwards Nancy Lubale 1 year ADA price prediction is bearish as areas between $1.20 and $1.15 beckon. IOMAP Model reveals Cardano faces massive resistance upwards. The MACD and RSI Indicators show ADA to remain bearish in the near-term. ADA price action has been uneventful over the couple of days with the upside capped at $1.316 while a crucial support is revisited at $1.234. Cardano price prediction appears bearish after shedding almost 10% on Tuesday from a high of around $1.410 traded on Monday to closed the day at $1.27. Let's see what Cardano's technical outlook appears like. ADA Price Faces Massive Resistance Upwards At the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.