Cardano Price Analysis: Where is the ADA Price Heading Currently?

The news of the Hoskinson-Alexander dispute has not significantly affected the trajectory of the ADA coin; over the last 24 hours, the price of ADA has decreased by 2% to settle at $0.7739$ , in line with a 4.3% drop in the total value of sector assets to $3.55 trillion. However, during the last hour, the price of Cardano has risen by 0.3%, suggesting a possible trend reversal.

If the crypto markets recover soon, the path will be clear for the ADA price to head towards $1, with potential strong resistance barriers at $0.90$ and $1.15$ respectively, which may prevent it from continuing to rise at that time.

Currently, Cardano's trading has stabilized above the 30-day moving average (DMA-30) by about $0.03-$0.04, but the ongoing decline in the relative strength index (RSI) currently indicates a reading of 56, suggesting increased selling pressure, which likely indicates that the ADA price is approaching the DMA-30 indicator line and contributes to the price stabilizing relatively around its current level in preparation for a possible continuation of the rise.

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