Price Analysis View Non-AMP

Cardano Price Records Bearish Signals! ADA Price To Retest $0.41?

Published by
Elena R

The market leader, BTC price, fails to hold its value above the $62K mark, highlighting a weak bullpower in the crypto space. Moreover, top altcoins record a similar trend with ETH price constantly struggling to hold its price above the $3,000 mark.

On the other hand, the Cardano (ADA) price has displayed a jump of approximately 5% within the past day and 4.34% over the past seven days, indicating a rising bullish influence for the altcoin in the market.  

Cardano Token Displays A Mixed Sentiment:

The ADA price displayed a bearish price action for the first month by recording a correction of approximately 22% in valuation. Following this, the bulls regained momentum, the Cardano token jumped 67.24% and recorded a yearly high of $0.7750 by mid-March. 

However, as the volatility increased the bulls lost momentum and started trading under a negative influence and recorded a correction of 46.19% in its portfolio. Since then, the Cardano token has been trading in a closed range between $0.4170 and $0.4950.

Negatively, the Cross EMA 50/200-day displays a high possibility of a Death Cross in the 1D time frame, highlighting a potential bearish price action in the coming time.

On the other hand, the technical indicator, MACD, displays a constant green histogram, indicating a bullish influence in the crypto space. Moreover, the averages show a rising pattern, suggesting the price will continue gaining value in the coming time.

Will ADA Go Up?

If the bulls regain momentum, the price will test its resistance level of $0.4950. Maintaining the price at that level will set the stage for the ADA coin price to test its upper resistance level of $0.5690 in the coming time.

Conversely, if the bears overpowered the bulls, the price would plunge toward its crucial support level of $0.4170 this month.

Also Check Out : AltSeason Does Not Appear Within Limits; Here is What a Popular Analyst Has to Say!

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Stablecoins Associated with First Digital Trust (FDT) Temporarily Depegs as Justin Sun Warns of Company’s Insolvency

In a surprising turn of events, Justin Sun, a prominent figure within the Tron (TRX)…

April 2, 2025

Trump Tariffs Live: Bitcoin Price Rallies To $87000 On ‘Liberation Day’

Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…

April 2, 2025

Grayscale Announces Launch of Two New Bitcoin ETFs: Here’s What They Are

Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…

April 2, 2025

Remember This Name! Remittix Presale Becomes the Top Predicted of 2025 as Project Raises Almost $15M in Record Time

In a year marked by conservatism and a sentiment shift in crypto, one name is…

April 2, 2025

Has Elon Musk Forgotten About Dogecoin (DOGE)?

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…

April 2, 2025

Shiba Inu Drops 9%, but RUVI AI’s (RUVI) Token Might Be the Meme Coin Killer as Investors Rush to Claim their Bonus

The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…

April 2, 2025