🔥 Technical Indicator Flashes Rebound Signal for Cardano: How High Will ADA Climb?

The TD Sequential indicator has flashed a buy signal for Cardano (ADA), suggesting a potential price reversal.

In recent weeks, Cardano experienced a downturn alongside the broader crypto market. According to the latest data, ADA traded at $0.6934, marking a 1.7% decline in the last 24 hours.

Over the past 14 days, the asset has dropped by 22%, while the 30-day decline stands at 25%. Despite these losses, ADA remains up 29.3% on a yearly scale, indicating sustained long-term growth.

Signals For Potential Rebound for Cardano

Amid the short-term decline, market analyst Ali Martinez has identified a possible shift in Cardano’s price movement. According to the observation, the TD Sequential Indicator has triggered a buy signal on the latest daily candlestick, suggesting a potential reversal.

The chart illustrated that Cardano has been in a downtrend since late January, forming a pattern of lower highs and lower lows. However, the price has now reached a key support zone, with the TD Sequential buy signal indicating trend exhaustion.

This tool, often used to identify points of potential reversals, suggests that ADA could see a bounce from its current level.

Meanwhile, another technical observation points to the formation of a bull flag pattern on the daily chart. A self-proclaimed market technician, Jonathan Carter, notes that ADA could test its support level once more before moving higher.

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