- Over the past 24 hours, the price of Cardano has increased by 0.5%, bargaining by 0.60 dollars.
- The technical picture has ADA, trading in a stretching wedge, with a potential re -testing of the lower trend line.
- Technical indicators, such as MACD and RSI, indicate a stable bearish impulse.
Cardano (ADA) only in the green bottom, by 0.5% over the past 24 hours at the time of writing the article and the risk of new losses.
Bitcoin in the first place up to 106 dollars forces bulls who look at a higher level, and Cardano can ride a wider output to break its bear daily series.
However, when the ADA trend in the expanding wedge, the potential repeated test of the lower trend line suggests that buyers can still hit the stones.
Cardano Price today
Cardano ran into significant volatility over the past month. Having received a maximum of $ 0.84 at the end of May, last week led to the fact that last week this increased losses to almost 20% and 5% last week.
This happened against the backdrop of a wider sale of risk assets, catalyzed by the escalation of tension in the Middle East.
Currently, the level of 0.60 US dollars acts as short -term support, the corresponding trend line formed since December 2023.
The inability to hold 0.60 US dollars can lead to a repeated testing of $ 0.50 or lower, especially due to the fact that the data on the chain indicate an increase in the pressure of the sale by long -term owners.
Hell price technical prospects
From a technical point of view, ADA is limited to the expanding clin circuit characterized by diverging models lines, which involve an increase in volatility.
This scheme implies a potential repeated test of a lower trend line, which can lead to prices up to $ 0.40, if the bear is preserved.
It is noteworthy that the MACD in the weekly diagram shows a bear crossover, with a MACD line under the signal line, increasing the pressure down.
Similarly, RSI, currently at the level of 44, is below the neutral level of 50 and down.
This indicates the fading of bull belief and place for further decline before reaching the territory of excesses.
These indicators together warn of the bear perspective in the short term.
Nevertheless, the bull change remains plausible if the ADA breaks above the border of the upper wedge of the recently formed pattern.
Such a breakthrough can catalyze a significant rally that potentially exceeds +380% and targeting levels above 1.6 to $ 2.00.
This price forecast corresponds to historical price cycles and optimistic market conditions.
In the short term, the key resistance is 0.80 US dollars and $ 1.14, which potentially paves the way for $ 1.5 or higher.
Analysts see the interaction of whale accumulation, and millions of ADA were recently acquired, and potential catalysts, such as the approval of ADA ETF, supporting bull moods.
Nevertheless, the broader weakness of the market and profit can break the bulls.
In this case, the breakdown below $ 0.60 can bring $ 0.40 to the game to the game.
