$ADA
🚨Cardano Price Prediction: Will ADA Turn Bullish in the Next Weeks?🚨
Cardano’s price has dropped 17% this month, raising fears of a deeper fall. But on-chain data and key technicals hint that this could be a short-term pullback, not a long slump. Traders are watching a key support zone, where early signs of buying are emerging.
Cardano’s 30-day MVRV ratio has dipped to -9.34%. That level often signals undervaluation for Cardano’s price, as most holders are sitting on unrealized losses. In the past, similar drops led to strong rebounds – like the rally from $0.55 to $0.84 in April, and $0.60 to $1.13 in February.
The charts also support a possible bounce. Cardano’s price is near the top of a descending channel, suggesting selling pressure is cooling. The Chaikin Money Flow remains positive, pointing to continued accumulation. Social buzz is rising too, with Cardano’s share of crypto discussion hitting 1.02%.
A clean break above $0.69 could set up a move to $0.73, and possibly $0.78 for Cardano’s price. But buyers need to stay active. If support fails, Cardano’s price could slide to $0.59 – weakening the bullish setup.
