#ADA Different signals are observed across various timeframes. Some short-term indicators may show sell signals or neutral values (for example, RSI, MACD on some platforms), while long-term moving averages may still maintain a bullish trend, indicating potential support at lower levels.
There are thoughts about the continuation of the downward trend after breaking the consolidation phase in the range of $0.69 - $0.75. A potential decline to the level of $0.625 is forecasted, and in case of breaking below $0.622, a more significant drop to $0.425. On the other hand, some analysts point to the formation of a bullish flag and a potential breakout to the level of $3 in the long term.
Important support levels are referred to as zones near $0.60, while resistance is around $0.84 and $1.00. A breakout of one of these levels could determine the further direction of price movement.
The RSI indicator on some charts shows positive divergence, which may indicate the possibility of an upward correction.
Overall, trader sentiment at the moment seems cautious or even bearish in the short term, which is confirmed by data showing a prevalence of short positions on some platforms. However, the inclusion of #CardanoADA into the strategic reserve of US cryptocurrencies in the past generated significant positive momentum and optimism. The growth of open interest (OI) on futures $ADA .
may indicate an increase in speculative activity and potential volatility. The activity of long-term investors (outflow #ADA from exchanges) may indicate their belief in future price growth. The ratio of positive to negative comments on social media regarding Cardano is positive, indicating optimism in the community.
Thus, at the moment, technical analysis $ADA shows conflicting signals, indicating uncertainty in the market. Short-term indicators lean towards a bearish scenario, while long-term prospects remain more optimistic for some analysts.
Trader sentiment is also mixed, with caution in the short term, but with positive expectations supported by fundamental factors and the activity of long-term investors.
Therefore, in the near future, the price #ADA is likely to remain volatile and sensitive both to general market sentiment and to new technical developments and news regarding Cardano. Traders should be cautious and consider various factors when making trading decisions.