Currently, Cardano is trading at around $0.86 after a daily decline of about -3.1%. It has moved in the last 24 hours within a range between $0.86 and $0.95, reflecting a state of relative volatility after a rising wave in recent days.
Despite recent declines, Cardano remains one of the prominent cryptocurrencies in the digital market due to its technical structure based on scientific research and continuous development. Interest in projects built on its network remains, giving ADA resilience against correction waves that the market occasionally experiences.
Technical indicators:
Moving averages: ADA is currently moving below some important averages, indicating a relative loss of positive momentum.
RSI: Located in the neutral area, reflecting a lack of strong pressure from buyers or sellers.
MACD: Slightly leaning down, but has not given a confirming signal for a sharp reversal.
Support and resistance levels:
First support: at $0.86, holding at this level enhances short-term stability.
Second support: at $0.82, breaking it may open the door for a wider correction wave.
First resistance: at $0.92, a breakthrough would restore some buying power.
Second resistance: at $0.95, surpassing it opens the door to higher levels.
Potential forecasts:
Positive scenario: If ADA maintains the level of $0.86 and manages to break $0.92, it may target the level of $0.95 and beyond.
Negative scenario: If the support at $0.86 is broken, attention will turn to $0.82 as a new testing area.
In summary, Cardano is moving within a sensitive technical range between strong support and nearby resistance. Success in maintaining above support areas may pave the way for a bullish rebound, while continued selling pressure may lead it toward lower levels.
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