ADA is currently trading at $0.1 after a notable 41% price surge over the past week. The outlook for Cardano is quickly turning bearish as several indicators are showing a potentially deadly selloff. Cardano established a new 2020-high on July 26 at $0.15. The digital asset is down 50% since its peak, and it’s currently trying to recover. Several indicators are pointing towards a selloff Although ADA price has been trending upwards, it seems that many indicators are starting to shift in favor of the bears. ADA/USD daily chart On the daily chart, the 100-MA and the 50-MA had a death cross on September 23. This pattern indicates the potential for a major selloff even though ADA is rebounding. The 50-MA at $0.108 will act as a resistance level in the upcoming days. ADA IOMAP Chart Looking at the In/Out of the Money Around Price chart by IntoTheBlock, it certainly seems that bulls face a lot of resistance ahead. The range between $0.102 and $0.104 is a giant resistance level where more than 5,000 addresses bought 2.4 billion ADA coins. ADA Holders Distribution Chart The theory that ADA bulls are slowing down is also supported by the distribution holders chart. The metric shows a significant decrease in the number of new addresses from July 30 to now. It reveals a lack of interest in the cryptocurrency compared to before. ADA/USD 12-hour chart On the 12-hour chart, the TD sequential indicator has presented a sell signal on September 28. ADA faces the 100-MA at $0.108 as a resistance level, and bears are looking at least for a re-test of the 50-MA at $0.092. The RSI is also quite extended, while the MACD remains bullish. ADA/USD 4-hour chart The RSI and the price have created a bearish divergence, which happens when the price posts higher highs, but the RSI doesn’t. Additionally, the MACD just crossed bearishly, and the TD sequential indicator presented another sell signal around 36 hours ago. The bearish outlook is solid; however, the IOMAP chart shows a ton of support below $0.10. Bears still need to be extremely careful as the only significant resistance level is established between $0.102 and $0.104, meaning that ADA can continue with its recent uptrend if this area is cracked. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next BoE’s Bailey: A lot of work to do before we can cut interest rates below zero FX Street 2 years ADA is currently trading at $0.1 after a notable 41% price surge over the past week. The outlook for Cardano is quickly turning bearish as several indicators are showing a potentially deadly selloff. Cardano established a new 2020-high on July 26 at $0.15. The digital asset is down 50% since its peak, and it’s currently trying to recover. Several indicators are pointing towards a selloff Although ADA price has been trending upwards, it seems that many indicators are starting to shift in favor of the bears. ADA/USD daily chart On the daily chart, the 100-MA and the 50-MA had a… 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.