Cardano Price Forecast May 22: ADA Rejected at $0.765 as Momentum Weakens

The Cardano price today is hovering near $0.748, dipping mildly after facing resistance above $0.76. Despite a recent rebound from sub-$0.72 levels, momentum appears to be weakening as bulls lose control near short-term trendline resistance. The broader structure continues to favor a sideways grind with intermittent sell pressure from overhead resistance zones. Cardano’s recent rally appears to be stalling near key rejection zones, raising concerns about a short-term pullback. With multiple indicators flashing warning signs, traders are now watching key supports to gauge the next price swing. What’s Happening With Cardano’s Price? Cardano price dynamics (Source: TradingView) The current Cardano price action reflects a loss of bullish steam after an early push toward $0.765 was swiftly countered by selling pressure. On the 30-minute and 4-hour charts, ADA is trading just above a key horizontal support near $0.735, a level that previously acted as a springboard for bullish continuation. However, the red supply zone between $0.758 and $0.765 remains firm. This rejection has been reinforced by a rising wedge breakdown visible on lower timeframes, suggesting… The post Cardano Price Forecast May 22: ADA Rejected at $0.765 as Momentum Weakens appeared first on Coin Edition .

Source: Coin Edition