Cardano prices hold important levels
Looking at the daily charts, the $ADA is currently just below $0.80 after failing to maintain momentum above $0.85. This zone is important:
- Immediate resistance: Around it 0.80-0.85 dollarsa 50-day SMA (currently $0.8611) reinforces the ceiling.
- Immediate support: Around it $0.7367aligns with the 200-day SMA, which has recently been acting as a bounce point (see green arrow).
ADA/USD 1 Day Chart – TradingView
If the ADA is able to close above $0.85, it could potentially be followed by a transition to $0.90 and potentially $1.00. However, if you don’t take the risk of $0.80, you’ll revert your token to $0.73 and then back to another $0.71.
Cardano Analysis: Has Cardano lost momentum?
From a technical trading perspective:
- Broken uptrend: The ADA has recently shown to be below the ascending trend line and weaken bullish momentum.
- Moving Average: The 50-day SMA is still above the price, acting as a dynamic resistance, and the 200-day SMA offers strong support. This creates a A bounded environment $0.73 to $0.86.
- Candlestick structure: Candles these days are indecisive, with buyers and sellers fighting at a psychological level of $0.80.
Unless the ADA collects 50-day SMA, the chances of an increase will be suppressed in the short term.
Cardano Price Prediction: What’s next for ADA?
Cardano news Flow has been falling bearish from neutral recently. That is, price action is driven primarily by technology and broader market sentiment (particularly Bitcoin’s movement). Based on the chart:
- A bullish scenario: Nearly over $0.85, the doors go from $0.90 to $1.00. This will re-accumulate on previous uptrend channels in the ADA.
- Bearish scenario: Losing support of $0.73 will reveal $0.71 as the next important level. A break that could accelerate the lower momentum towards $0.62.
For now, ADA traders need to closely monitor $0.80. This is the boundary between attempts to recover and further weaknesses.
