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ADA Price analysis

ADA’s Struggles Continue: Will $1 Hold for Cardano?

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  • Cardano (ADA) breaks $1.20 support, leaving investors concerned as 64.68% are in the red, raising selling pressure.
  • ADA fluctuates near $1.01 with neutral market sentiment, and $1.00 is a key support level to watch for a potential rebound.
  • Despite the price decline, Cardano’s network activity rises with 1.24M active addresses, showing continued user engagement.

Over the past few weeks, the cryptocurrency market has been volatile and Cardano (ADA) is not an exception. Currently, the sixth largest cryptocurrency by market capitalization has fallen below the vital $1.20 level at which 93,000 addresses bought around 2.54 billion Cardano tokens. The recent price decline has raised some questions on the future of Cardano.

ADA is currently priced at approximately $1.02 which indicates a stagnation of the asset’s movement. The following price charts illustrate a gradual downfall of Cardano with the support level of $1.20 being broken. This support accumulated through the process of investor accumulation has now been breached and the next level to watch is the $1.00 level. If Cardano is able to hold this new support zone it could prevent the price from dropping any lower.

ADA Support Break

Looking at the technical analysis at this stage, the market sentiment is neither bullish nor bearish the RSI is at the middle range which is neutral. This means there is no clear direction of buying or selling pressure hence making Cardano fluctuate within the short term period.

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Source: TradingView

The break of $1.20 support level has led to discomfort among ADA holders especially those who bought in at this level.  According to the In/Out of the Money Around Price chart, 64.68% of Cardano holders are in the red, while only 34.44% are in profit. This difference in the investors’ attitude may result in more selling pressure, which will put more pressure on the price.

Rebound Potential for ADA

While price has been an issue, the activity of the Cardano network has been on the rise. Within the last month alone, the platform registered around 1.24 million active addresses of users, which point towards the fact that users are still interactive with the platform even if price fluctuations are taking place. 

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Source: Santiment

The $1.00 level is going to be very important for ADA. If the cryptocurrency remains within this range it will provide a base for the potential of a rebound. The success of Cardano will be hinged on the ability to keep its community and also overcome the many risks that are associated with the crypto market. ADA may not be able to bounce back if the market situation remains unfavorable in the general market. 

Cardano Price Analysis: Key Resistance Levels and Trend Reversal Risks

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  • Cardano’s price faces a critical moment, with potential to challenge $1.15 resistance but also risks a sharp drop to $0.51.
  • The ADX indicator shows weakening momentum for ADA, suggesting consolidation or a trend reversal unless buying pressure returns.
  • Cardano’s Ichimoku Cloud chart signals bullish potential, but narrowing EMA lines warn of a possible short-term pullback.

Cardano (ADA) is in a critical zone; the price may be indicating a reversal to the upside and the momentum is waning. As of recent, ADA may likely challenge the resistance levels of $1.15 and even climb up to $1.20 in case the trend picks up again. However, it is not without the risk of a severe bearish breakout, which could see XRP/USD prices plummet down to a low of $0.51.

The current market sentiment for ADA is somewhat ambiguous and is visible on the DMI chart. The ADX (Average Directional Index), a leading indicator of the trend, is now at 24, from a high of 60 in the last few days. The higher the ADX readings above 25 it means that there is a strong trend while in the lower values below 20 it shows weak or dropping momentum. The fall in the ADX shows that the uptrend of Cardano is weakening and could turn sideways if the buyers fail to gain momentum.

Source: TradingView

Cardano Faces Potential Correction

Despite the fact that the positive directional indicator (D+) remains higher than the negative one (D-), with relative values of 22.5 and 19, the gradual decrease in the gap between these two indicators should be worrisome. This means that even the uptrend is slowly starting to wane and if bearish pressure intensifies then there is a chance Cardano will shift to a neutral to bearish market sentiment. It means that D+ should become stronger to extend the upward momentum, sending the ADX back over 25 to indicate renewed buying pressure.

The price of Cardano can be analyzed with the help of the Ichimoku Cloud chart, where the trend is now rising. Cardano is trading above the cloud, which means that the bulls are still in charge of the market. This cloud chart is rising which gives positive signals and supports the optimism of Cardano price. But the fact that Tenkan-Sen (blue line) and Kijun-Sen (orange line) are closing the gap indicates that the cryptocurrency is in the process of consolidation after previous growth. This is rather suggestive of modest loss of steam and a near-term correction may well be on the cards.

Source: TradingView

Price Above $1 Key for Uptrend

On the other hand, if the price goes higher than the present resistance levels, and holds this position it will be an indication that the upward trend is still in force and that more gains may be recorded. Consequently, if ADA seals a 4-hour candle above the $1 mark, the bullish trend for Cardano will be boosted, and the target will be at $1.25, according to the crypto analyst Sssebi.

At the moment there is a period of great uncertainty, but Cardano’s short-term moving averages (EMA) are still positive as the short-term EMA lines are above the long-term ones. This is a common feature of an ongoing uptrend. 

However, the convergence of these two EMA lines may indicate that the bullish trend is weakening up. The trend may fizzle out if the buying pressure increases, and ADA might require assistance to break past certain barriers.

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Source: TradingView

At the present stage, when Cardano is at a critical point in its price movement, traders will be waiting for the signs of the further continuation of the growth or the beginning of the downside movement. Any move above $1 would suggest that bulls are back in the driving seat, while a break below indicated support levels may produce a larger pull back. The price of Cardano in the future will be determined by the continuation of the price above crucial support levels in the next few days.

Cardano On The Verge Of $1: Bulls Eye Next Resistance Break

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  • Cardano (ADA) has surged 144% in two weeks, decoupling from the broader altcoin market and nearing an 8-month high.
  • Increased whale activity and rising social media engagement signal growing confidence in ADA’s potential for further gains.
  • The potential pullback could find support at $0.71 and $0.6478, with further downside risking consolidation.

Cardano (ADA) has been on an impressive bullish rally with its price rising by 144% within the last two weeks. According to the analytics platform Santiment, ADA is breaking free from the larger altcoin market and is close to touching an 8-month high. The ADA/BTC price ratio is also gradually closing in on the highest value in the same period, evidencing increased confidence in the potential of Cardano.

At the time of writing, Cardano is trading at $0.798 and is battling the $0.80 mark. If it can overcome this level, ADA may rise above the $1 mark, a crucial level that many experts think can be achieved due to the current market trend.

Cardano Whale Activity

Whale activity with ADA has also been on the rise especially those with more than $10 million in ADA have added more to their portfolio by 134.09%. Also, retail investors with stake between $100,000 and $9 million have also been adding more ADA into their portfolio due to optimism of the ADA’s future price appreciation.

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Source: IntoTheBlock

Cardano social media expansion is also visible, especially in the social trending ranking, which peaked at the second position on November 16, as reported by Santiment. The increased social engagement along with the positivity of investors in ADA points to the fact that ADA has a bright future which can push the price even more.

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Source: Santiment

Nevertheless, ADA met some stumbling block at around $0.80- $0.82, which is fairly a challenging threshold. Based on this, if Cardano is to break through this resistance, analysts believe that the next price targets will be at $0.89 and $0.9871 with the help of the Fibonacci retracement tool.

ADA Resistance and Support

Nevertheless, if ADA price fails to penetrate through the resistance level it may as well be pulled back and possible support levels being $0.71 and $0.6478. These levels will act as support and may prevent further losses but any substantial bearish break down below these levels will question the current bullish structure and could lead to a sidewards consolidation.

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Source: TradingView

Even though ADA has risen by 144%, Coinglass data reveals that traders are still positive on the coin since long positions outnumber shorts significantly. This means that even after it has increased by such a large amount, Cardano still has potential for further growth, with traders still bearish on its potential.

Cardano ADA Poised For Breakout: Analyst Predicts Surge Beyond $0.45 Resistance

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Cardano (ADA) is now in the limelight with many events planned to happen in the near future. Crypto analyst Sssebi has recently shared his observations on X post, stating that Cardano is set to experience a significant price surge following a period of ranging.

The analyst noted that ADA from the Cardano has been consolidating sideways and it is very common in the cryptocurrency market that such consolidation precedes a big movement. He stressed that the $0.45 level, which has been identified to have offered a lot of resistance than expected. As for the analyst, once this level is broken, Cardano could skyrocket, possibly “teleporting” to the $0.50 and higher.

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Cardano Primed For Breakout

This analysis has found a lot of traction with the general crypto community, which has remained quite optimistic about ADA’s prospects. Looking forward to crossing the $0.45 mark is a critical level that may open up possibilities for higher evaluations, and thus, more trades and attention.

Cardano has recently been receiving a lot of attention in the cryptocurrency space as well as showing significant growth as a project. In the recent past, ADA has been trading in a tight range with most of the trading activity happening at certain price levels. This decline consolidation as noted by Sssebi is usually a good indication that a large move is impending.

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While analyzing the movement of cryptocurrency in the market in the upcoming weeks, Cardano is likely to be the focus again. From Sessebi’s analysis, it is evident that a price breakthrough of the $0.45 resistance could very well be the start of a new bullish phase for ADA. This level would be critical for traders and investors and they will be paying attention to price behavior at this level.

Cardano ADA has been a subject of much excitement in the market, with traders waiting for the next major shift to occur. Analyst observations give a clear guidance on what to look for in the near future, thus paving way for an important period of ADA. The attention now turns to whether Cardano will be able to overcome the current resistance level and start a new ascent.

Cardano’s ADA Takes a Breather: Analyst Predicts Bullish Continuation

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Cryptocurrency analyst Sssebi has recently given his opinion on Cardano, ADA, and its performance. In the recent X post, the analyst recommended that the ADA should take a break after the recent strong rally.

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Sssebi has elaborated that ADA has had an excellent rally; however, the current rally pace shows signs of consolidation. Such a pause is a normal and even beneficial phase in the cycle of the market, opening the way for correction that may lead to further growth. Even though there is the short-term retracement, Sssebi stressed that ADA is still in the uptrend and the future remains bright.

The analyst explained that Cardano could rebound from the orange line, which is the previous high, or decline to around $0.40. He thinks that either of them can happen but, the bullish trend still holds and it was necessary to have a minor retracement for the sake of the market. This view accentuates the significance of recognizing the trends in markets and the relevance of periodical corrections to support long-term growth.

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Cardano's ADA Takes a Breather: Analyst Predicts Bullish Continuation 13

ADA’s Strategic Pause For Growth

Cardano token has been performing rather well in the recent past and this is a period that can well be seen as a phase of strengthening. Sssebi’s analysis indicates that this retracement is anticipated and, more importantly, positive for ADA in the long run. ADA may be in a better position to build the next leg of its upward climb if the market is allowed to breathe and settle down.

On the other hand, as analyst notes, a dip to $0.40 would still be considered as a part of normal correction and hence still valid. This would in no way hurt the bull view since correction is normal and often used as a springboard for further gains. This is important for the investors and traders to have this balanced view of the market especially the volatile cryptocurrency market.

Apart from ADA’s performance, there are other factors that one needs to consider which include market sentiment, investors’ interest, and activities within the Cardano ecosystem.

From the above analysis, Sssebi painted a clear picture of the market situation of ADA as of now. Thus, the expected correction is a temporary decline that may contribute to the growth of the asset in the future. The ADA investors and traders should look for the levels that could act as the support and should also keep an eye on the overall market trends while this consolidation is in progress.

Cardano (ADA) On The Brink Of Major Breakout: Analysts Forecast Significant Gains

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ADA, the native token of the Cardano blockchain is being eyed by some of the best crypto analysts who believe that ADA is set to explode. Analysts ZAYK Charts and Captain Faibik have noticed a falling wedge figure on the daily ADA chart which may result in a 40-50% increase.

ZAYK Charts, a popular Crypto Analyst has recently given his opinions on X and highlighted that ADA is in a bullish falling wedge pattern. This pattern is indicated by two lines that are converging and decreasing price volatility and it often precedes a reversal of the price direction. According to ZAYK, a breakout from this pattern may send Cardano coin soaring to a 40-50 percent price increase which could prove very beneficial to investors.

ADA Bullish Outlook 

Likewise, Captain Faibik, another highly regarded analyst, pointed out the ADA’s wedge formation which was falling. He stressed that one should keep a close eye on token and believes that there will be a breakdown soon. Faibik’s analysis is similar to ZAYK’s, which supports the assumption that the price of ADA will rise significantly..

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The falling wedge pattern is one of the most popular patterns used in technical analysis as a bullish signal. This happens when the price of an asset is falling but the zone of fluctuation is gradually getting smaller until it reaches a certain point. 

This pattern shows that the bearish pressure is fading which bodes well for a bullish reversal. For Cardano, a break out of this formation may result in a massive upside move which in turn will enhance investor confidence and the general market.

Based on the current analysis, ADA’s market situation can be characterized as rather unstable and it closely follows the trends in the crypto market. Nevertheless, the present case made by ZAYK Charts and Captain Faibik on this falling wedge pattern is rather convincing. Based on the analytics, the coin is at the precipice of a significant breakout that may cause the asset’s valuation to rise by 40-50%.

Since most expert analysts are currently placing ADA on the bullish breakout radar, the next few days could be telling. Therefore, investors should wait for further developments and get ready for a possible sharp increase in the price of token. The analysis from experts showcases a potential that is waiting to be unlocked in the crypto space, which could lead to massive returns for anyone willing to seize it.

Cardano (ADA) Price Analysis: Analyst Predicts Potential Drop Before Bullish Rebound

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Renowned crypto analyst Alan Santana has provided a detailed analysis of Cardano (ADA) price movement, forecasting a significant drop before a potential bullish surge. According to Santana, the ADA/USDT pair, which has been a staple for many traders over the years, could see a notable decrease in value before rebounding.

Critical Levels Identified for ADA: 25% and 50% Declines Possible

Santana points to a bearish harmonic pattern in Cardano’s price chart, a common and reliable indicator in technical analysis. This pattern suggests a high likelihood of further downward movement. “We’re observing two critical levels for ADA,” Santana explains. “The first suggests a 25% drop, while the second indicates a possible 50% drop.”

While a 25% correction might seem severe, Santana warns that based on historical trends, the more significant 50% drop is also a possibility. This aligns with the tendency of cryptocurrency pairs to test the lowest possible levels before experiencing a substantial upward trend.

image 31 3

Santana outlines several strategies for traders in light of this bearish outlook. Traders can potentially profit from the predicted decline by taking short positions. Alternatively, traders might wait for ADA to establish a solid support level before buying and holding the cryptocurrency for the long term. A more complex approach involves using both strategies, requiring considerable patience and discipline.

Since early December 2023, Cardano has experienced a decline in daily trading volume, with prices steadily decreasing. This trend suggests that a lower low is likely on the horizon, reinforcing the need for traders to prepare for potential further declines.

While the current outlook for Cardano appears bearish, Santana’s analysis provides traders with actionable insights to navigate the market. By anticipating a possible 25-50% drop, traders can make informed decisions to either capitalize on the downtrend or prepare for a future bullish wave.

image 31 4

Analyst Predicts Short-Term ADA Surge

Despite the overall negative outlook, short-term price movements indicate a potential upward trend for Cardano, as noted by crypto analyst Sssebi. According to the analyst, ADA is consistently posting higher highs and higher lows, indicative of a continued strengthening trend. At the moment, another bounce on ADA might lead to it running up again. The target price, according to the analyst, is $0.52 for ADA in the near future.

At the moment, Cardano is at $0.485915. It possesses trading volume in the last 24 hours of $549.60 million and a market capitalization of $17.34 billion. The last 24-hour change in the price of ADA slightly went down by 0.15%.

ADA 1D graph coinmarketcap 21

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Cardano (ADA) Poised for Next Bull Run, Analysts Predict 10x to 15x Price Surge

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Renowned crypto analyst Sssebi recently shared his optimistic outlook on ADA’s future price movements, predicting a notable rise in the coming months. According to Sssebi, Cardano is on the brink of entering a bull market, with significant gains expected soon. “I think we will be seeing $1 in the next 3 months and close to its all-time high (ATH) by the end of the year,” he stated. 

Analyzing Cardano Historical Pattern

Cardano’s historical performance suggests it typically experiences a strong bullish phase 3-5 months after Bitcoin’s halving events. Given this pattern, Sssebi’s prediction aligns with the anticipated market dynamics following the most recent halving. If the trend continues, ADA could be set for substantial upward movement, offering lucrative opportunities for investors.

Several factors bolster the analyst’s positive sentiment towards Cardano. Cardano’s robust technological framework and ongoing development initiatives enhance its appeal as a sustainable and innovative blockchain platform. Secondly, the growing adoption of ADA for various decentralized applications (dApps) and smart contracts showcases its versatility and potential for long-term growth.

Furthermore, the broader market trends and increasing institutional interest in cryptocurrencies add to the favorable outlook for ADA. As more investors seek to diversify their portfolios with digital assets, Cardano stands out as a promising candidate due to its unique features and strong community support.

Analyst Eyes 10x to 15x Surge For ADA

In a recent analysis, analyst Sssebi highlighted a significant historical marker for Cardano (ADA). The analyst noted that the blue circle on the chart represents the position of ADA during the previous cycle when Bitcoin (BTC) was achieving its all-time high. 

From that juncture, ADA saw a remarkable 17x increase, propelling it to its own record high. Based on current market conditions, the analyst predicts that ADA could potentially see a 10x to 15x increase from its present price in this cycle.

image 30 8

At this time of writing, Cardano (ADA) is exchanging at $0.467895. Over the last day, trading volume for the cryptocurrency reached $502.42 million. The market capital is around $16.69 billion now. Over the past 24 hours, ADA dropped by 1.89%, showing some value oscillations over the previous days.

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ADA Facing Bearish Pressure: Analysts Eye $0.50 Retest & Bullish Trend Reversal

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Cardano (ADA) is tracing a downward trajectory within a medium to long-term trend channel. This pattern reflects a consistent trend of investors selling at progressively lower prices, indicating a negative sentiment toward the currency’s development. Moreover, the moving average indicator has provided a bearish signal, suggesting a continuation of this downward trend. Notably, the currency has breached a critical support level at 0.46 points, foreshadowing further declines.

Currently, Cardano’s price stands at $0.446434, buoyed by a 24-hour trading volume totaling $609.98 million. Cardano’s market capitalization, currently at $15.92 billion, solidifies its position as one of the leading digital assets in the market. Over the last 24 hours, ADA is up slightly by 0.87%.

ADAUSDT 2024 05 14 04 02 52
ADA Facing Bearish Pressure: Analysts Eye $0.50 Retest & Bullish Trend Reversal 21

Echoing Changelly’s analysis, there is an expectation of a 2.15% downturn in ADA’s price, potentially reaching its nadir by May 14, 2024. Changelly meticulously examined technical indicators that corroborate the prevailing bearish sentiment dominating the market landscape, with a substantial 86% of sentiment leaning towards the bearish end of the spectrum. 

Additionally, the Fear & Greed Index, standing at a modest 53, signals a neutral stance in market sentiment, further reinforcing the prevailing caution among investors amidst the ongoing downturn.

Analyst Forecasts ADA $0.50 Retest, Notes Positive Signs

Despite these negative market sentiments, crypto analyst Sssebi shared his optimistic outlook on the ADA price trajectory. The analyst highlights the coin’s rebound from the lower trendline, which now serves as a robust support level; Sssebi hints at a significant shift in sentiment. 

This resurgence indicates a potential retest of the $0.50 mark, a critical psychological level for many traders and investors. The timing of this retest is anticipated to be imminent, possibly occurring within the current week.

ADAUSDT 2024 05 14 04 02 52

Sssebi notes that the relative strength index (RSI) increased slowly while developing higher lows. As indicated by this technical pattern, the market has possibly bottomed, ending the downward trend and starting the bullish phase. Investors and traders could interpret this as an opportune moment to enter or increase their positions in ADA, anticipating favorable price movements soon. 

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Cardano’s Rebound Rally: ADA Gears Up for a Strong Comeback After 11% Dip

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Cardano (ADA) has witnessed a significant downturn in the last seven days, losing 11% of its valuation. Sellers drove the price down to a critical support level of 46 cents. While the price managed to bounce once at this support, market observers are now closely monitoring whether buyers can regroup and stage a comeback.

ADA 7D graph coinmarketcap 5
Cardano (ADA) 7-Days Chart | Source: CoinMarketcap

Analyzing Cardano (ADA)’s Path to Recovery

Renowned crypto analyst Ali Martinez has emerged as a beacon of hope for Cardano enthusiasts. Martinez, sharing insights via a post on X, pointed out a promising buy signal on the Cardano daily chart.

image 26

The signal is closely tied to a recent touch of the 0.618 Fibonacci retracement level, indicating a potential turning point. If this signal holds true, ADA could break past the formidable $0.55 resistance, paving the way for higher targets at $0.69 and, optimistically, even reaching $0.93.

As of now, the current value of Cardano sits at $0.503402, with a 24-hour trading volume of $1.14 billion and a market capitalization of $16.96 billion. Over the past 24 hours, ADA experienced a decline of 0.89%.

ADA 1D graph coinmarketcap 5
Cardano (ADA) 24 Hours Chart | Source: CoinMarketcap

Moreover, Coincodex’s ADA price prediction foresees a 3.35% increase in ADA’s value and reaches $ 0.531608 by January 14. Analyzing the technical indicators, the current market sentiment for ADA appears to be Neutral Bearish, with a Fear & Greed Index score of 76, indicating Extreme Greed.

Considering the price fluctuations of ADA at the beginning of 2023, crypto experts anticipate an average ADA rate of $0.510 in January 2024. The expected range includes a minimum price of $0.470 and a maximum price of $0.551.

Cardano 2024: Staking, TVL, NFTs Soar

As of the onset of 2024, ADA has documented 3,064 staking pools, contributing to a staked quantity totaling 22.76 billion ADA, encompassing 64.94% of the overall supply.

This surge in activity extends to various Cardano-based projects. Recent data indicates substantial growth, particularly in the lending protocol Indigo and the on-chain exchange Minswap, with the most significant developments occurring in the past week.

Simultaneously, the Total Value Locked (TVL) in ADA presently amounts to $354.73 million, and the 24-hour trading volume stands at $6.43 million, as per DeFiLlama’s compiled data. Furthermore, ADA’s non-fungible token (NFT) sales volume has risen to nearly $9 million, marking a noteworthy 60% increase.

image 26

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