📊 Technical analysis of ADA/USDT – May 5, 2025

Market summary:

Cardano (ADA) is currently trading around $0.6831, showing a slight intraday correction of -0.027%. The price has fluctuated between a low of $0.6688 and a high of $0.7053 over the past 24 hours.

Technical context:

Key support: The zone of $0.665–$0.678 has acted as significant support, backed by the 50-day moving average at $0.673.

Immediate resistance: The level of $0.70 represents an important resistance. A sustained breakout above this level could indicate bullish momentum.

Technical indicators:

RSI (14): It is at neutral levels, suggesting that the market is neither in overbought nor oversold conditions.

MACD: Shows a moderate bullish trend, although without clear signals of a significant crossover.

Possible scenarios:

Bullish: If ADA manages to consolidate above $0.70, it could head towards the next targets at $0.75, $0.81, and $0.93.

Bearish: A drop below $0.665 could lead the price towards the zone of $0.63, where the next significant support is located.

Conclusion:

ADA is in a consolidation phase within a defined range. Price action in the coming days will be crucial to determine future direction. Traders should closely monitor the mentioned support and resistance levels to identify trading opportunities.