- Cardano (ADA) is trading at $0.70, facing key resistance at $0.77 while holding crucial support at $0.70 amid increasing market volatility.
- Cardano’s weekend outlook hinges on maintaining $0.70, with a potential breakout toward $0.75 or a drop to $0.65 if selling pressure intensifies.
Cardano (ADA) is experiencing a pullback, currently trading around $0.70, marking a 5.16% decline over the past 24 hours. Despite this dip, ADA remains in a volatile price range, setting the stage for a critical weekend ahead.
Key Support and Resistance Levels
- Support: $0.70
- Resistance: $0.77
ADA has been fluctuating between $0.69 and $0.77 over the past week, with Bollinger Bands suggesting increasing volatility. A decisive hold above $0.70 is crucial for maintaining bullish momentum, while a drop below this level could trigger further downside pressure.
Daily & 4-Hour Chart Insights
On the daily timeframe, ADA remains up 6.60% for the week, showing signs of strength. If buyers push the price above $0.7531, the next resistance levels to watch are $0.80 to $0.85. However, failure to sustain support at $0.7226 may lead to a retest of lower levels.
The 4-hour chart offers a more immediate outlook, with Cardano holding firm at $0.70 support. The TD Sequential Indicator has flashed a buy signal, hinting at a potential bullish reversal. If ADA breaks above $0.73, it could trigger a short-term rally.
Long-Term Perspective
Looking at the monthly range, ADA remains within $0.31 to $1.23. A move above $1.17 would confirm a sustained uptrend, while a breakdown below $0.5706 could lead to prolonged bearish action.
Weekend Price Prediction
ADA is at a crossroads. If bullish momentum builds, the price could test $0.75, with potential spikes toward $0.78 to $0.80. However, if selling pressure dominates, a retest of $0.68 to $0.65 is possible. Traders should keep an eye on $0.70, as losing this level may lead to a sharper correction.
Will ADA bulls step up, or will bears drag the price lower? Stay tuned for an eventful weekend in the Cardano market!
