Price Analysis
  • Chandan Gupta
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    Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

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    Cardano (ADA) Price Prediction for April 4

    • currency-symbol ADA $ 0.6460 (4.41%) top gainer
    Story Highlights
    • ADA holds key support at $0.65, forming a bullish hammer patternโ€”failure to hold may trigger a 30% drop to $0.45.

    • Despite bearish sentiment, $2.1M in ADA outflows suggest accumulation, while leveraged traders bet on both upside and downside.

    ADA, Cardanoโ€™s native token, has reached a key level and appears to signal that if the downside momentum doesn’t continue, a massive sell-off could follow. It all began with a reciprocating tariff announcement by United States President Donald Trump on April 2, 2025.

    At press time, ADA is trading near $0.65 and has remained stable, gaining only 0.60% in the past 24 hours. However, during the same period, its trading volume dropped by 30%, indicating lower participation due to potential fears of a further market decline.

    Price Action and Technical Analysis 

    However, following the tariff announcement, ADA’s price initially dropped from a key level but failed to close below it, preventing further decline. According to expert technical analysis, ADAโ€™s daily chart has formed a bullish hammer-type candlestick pattern at the key support level of $0.65, indicating potential upside momentum.

    Cardano (ADA) Price Prediction

    In the meantime, if this support fails and ADA falls below the key level, closing a daily candle below the $0.615 mark, there is a strong possibility it could drop by 30% to reach the $0.45 mark in the future.

    At present, the asset appears bearish and is in a strong downtrend as it trades below the 200-day Exponential Moving Average (EMA).

    Source: Trading View

    Bullish On-Chain metrics 

    Despite the bearish price action, investors appear to be accumulating the token, following a “buy the dip” strategy, as reported by the on-chain analytics firm Coinglass. Data from spot inflow/outflow reveals that exchanges have witnessed a significant outflow of $2.10 million worth of ADA tokens in the past 24 hours, indicating potential accumulation.

    On the other hand, traders appear to be following the current market sentiment, strongly betting on the bearish side.

    Source: Coinglass

    Data reveals that traders are currently over-leveraged at $0.636 on the lower side and $0.662 on the upper side, having built $5.41 million and $6.15 million worth of long and short positions, respectively.

    Looking at this data, it seems like the bulls are dominating and are pushing ADA to hold its key support level.

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