Cardano Price Prediction for May 21: Will ADA Hold Above $0.73 Amid Growing Bear Pressure?

Cardano price today is struggling to stay above the $0.73 mark after facing renewed selling pressure across key resistance levels. Following a corrective decline from the $0.80 zone earlier this week, the token is now attempting to find support near $0.72–$0.73. The broader Cardano price action suggests a consolidation phase, but traders are closely watching whether this pullback is a breather or the start of a deeper retracement.

What’s Happening With Cardano’s Price?

On the weekly chart, Cardano price is hovering just above the 0.618 Fibonacci support level at $0.676, which has historically acted as a key pivot zone. After failing to break the 0.5 Fib level at $0.80 with conviction, the token has slipped back toward short-term support. This zone, between $0.72 and $0.73, is aligned with previous trendline support from the mid-April breakout, making it a crucial area to hold in the coming sessions.

The daily chart reveals a clear descending channel forming after the $0.83 rejection, with ADA testing the lower boundary of this channel. If bulls lose grip at this level, the next support lies at $0.70, followed by the more critical $0.676 level. On the upside, immediate resistance remains near $0.75–$0.76, and a break above could re-open a path toward $0.80.

Indicators Reflect Short-Term Weakness

The RSI on the 30-minute chart is currently near 43, showing mild bearish divergence as the Cardano price retraces. Meanwhile, MACD has also turned negative, suggesting a short-term bearish momentum. However, the bearish strength remains weak for now, and a small bullish divergence could emerge if ADA bounces off the $0.73 base.

Stochastic RSI also indicates oversold conditions on lower timeframes, particularly the 30-minute chart, where readings have dropped below 30. This hints at the potential for a technical bounce as traders look for opportunities near trendline support.

The Ichimoku Cloud on the 1-hour timeframe has turned flat, reflecting indecision. Price is oscillating around the cloud’s lower band, with Tenkan and Kijun lines crossing bearishly. If ADA breaks back above the cloud, it could signal renewed short-term strength. Otherwise, the bearish bias remains intact for the near term.

Bollinger Bands and EMA Structure

On the 4-hour timeframe, Cardano price volatility has narrowed, with Bollinger Bands compressing after the recent downside movement. The price is currently trading near the middle band, right around the 20-EMA ($0.744), which acts as an equilibrium point. A decisive move above this level could trigger a test of the upper Bollinger Band near $0.77–$0.78.

Meanwhile, exponential moving averages show a mixed structure. While ADA trades just below the 50-EMA, it is still above the 100 and 200-EMAs, which suggests that the medium-term trend remains intact unless a breakdown below $0.715 occurs. EMA confluence around $0.74–$0.75 remains the key battleground for bulls and bears in the short term.

Why Cardano Price Going Down Today?

The pullback in Cardano price today is largely technical, following multiple failed attempts to breach the $0.80–$0.83 resistance zone. Traders have opted to book profits after a strong rally earlier this month, and broader crypto market softness has only added to the selling pressure.

In addition, momentum indicators such as RSI and MACD have shown early signs of exhaustion since May 17. While the price hasn’t broken any critical support levels yet, sentiment has turned cautious, with investors now awaiting confirmation of a bounce or deeper correction.

Short-Term Forecast: Cardano Price Levels To Watch

The short-term Cardano price update suggests a cautious bullish bias if the $0.73–$0.74 zone holds. A close below $0.72 would shift momentum in favor of bears, opening the door to a revisit of the $0.68–$0.70 range. On the other hand, a daily candle reclaiming $0.75 could confirm the end of the pullback, reigniting interest toward $0.78 and $0.80.

Outlook: As long as ADA maintains support above $0.72, the broader Cardano price action remains constructive. Bulls may need fresh catalysts to reclaim $0.80, but short-term rebounds are likely given the oversold technical conditions. Traders should monitor volume and reaction at $0.73–$0.74 closely ahead of May 21’s opening session.