Cardano (ADA/USDT) Technical Analysis – March 8, 2025
Chart Overview:
Timeframe: 1-hour (short-term analysis)
Current Price: 0.8213 USDT
Price Range:

High: 0.8242 USDT

Low: 0.8175 USDT

Volume: 4.55M ADA
RSI (14, close): 44.79 (purple), 38.65 (yellow moving average)

Support and Resistance Levels:

Resistance Levels:

0.8319 USDT (nearest resistance)
0.8668 USDT
0.8979 USDT
0.9206 USDT
0.9421 USDT
0.9723 USDT

Support Levels:

0.8000 USDT

0.7931 USDT (strong support)
0.7815 USDT (next major support)

Technical Indicators Analysis:
1. Price Action & Candlestick Pattern

Recent candles indicate a recovery attempt after a downward movement.
There was a significant drop (large red candle) followed by smaller green candles suggesting buyers are stepping in.
The price is currently testing minor resistance at 0.8213 USDT.

2. Relative Strength Index (RSI)

RSI is at 44.79, which suggests that the market is neither overbought nor oversold but is leaning towards bearish momentum.
The yellow moving average line of RSI is at 38.65, indicating weak buying pressure.

3. Volume Analysis

A spike in selling volume during the major price drop.
After the drop, volume has declined, indicating a possible consolidation phase.

Future Price Prediction & Trading Strategy:
Bullish Scenario (Upside Targets)

If ADA breaks above 0.8319 USDT, it could test 0.8668 USDT next.
Further continuation could push the price towards 0.8979 USDT and even 0.9206 USDT if bullish momentum strengthens.

Bearish Scenario (Downside Risks)

If ADA fails to hold above 0.8213 USDT, it could drop to 0.8000 USDT.
A breakdown below 0.7931 USDT could trigger a further decline towards 0.7815 USDT or lower.

$ADA