Cardano Price Prediction March 18th: ADA Price Coiling Up Before The Next Bull Cycle; Is $0.4 Within Reach?

Cardano Price Prediction: Since last week, the Cardano coin price attempted twice to break the $0.355 local resistance level. However, the daily rejection candles at this resistance indicate the selling pressure is high and the ADA price will most likely revert lower. Thus, a breakout from either of the aforementioned barriers may further influence this altcoin’s near future growth.

Key Points: 

• The daily chart shows the Cardano coin is witnessing intense supply from the $0.35
• A possible bearish reversal from the $0.35 barrier could tumble the coin price by 7% to hit the $0.325 mark
• The intraday trading volume in the ADA coin is $359 Million, indicating a 10.18% loss.

Source- Tradingview

On March 12th, the Cardano coin price rebounded from the $0.3 support and surged 19% higher to hit a local resistance of $0.355 resistance. The increasing volume activity during this recovery indicates the buyer’s attempts to reclaim higher levels.

However, on March 14th, the daily chart showcased a long-wick rejection reflect the sellers continue to defend this level. As a result, the ADA price moved sideways