Cardano (ADA) price dropped 3.15% to $0.5677 in the last 24 hours with daily trade volume declining 18.41%
ADA has declined 14.94% over the past 7 days with current market cap at $20,025,239,146
Technical indicators show mixed signals with BBTrend flipping from positive to negative territory
Key support level at $0.52 needs to hold to prevent sliding below $0.50
Critical resistance ahead at $0.60 that could determine whether next move is bullish or bearish
Cardano (ADA) is showing early signs of recovery despite dropping to $0.5677 at the time of writing on Wednesday, marking a 3.15% decline in the last 24 hours. The daily trade volume has also decreased by 18.41% to $1,450,077,564, suggesting waning market interest.
The cryptocurrency has faced a challenging week, declining 14.94% over the past 7 days. Cardano’s total market capitalization currently stands at $20,025,239,146.
The recent price action follows a pattern of volatility that has characterized ADA’s movement since hitting a recent low of $0.510. While the token has rebounded more than 15% from this low, traders remain cautious as the altcoin trades below key technical indicators.
The drop in both price and volume points to a possible trend reversal, likely reflecting decreased interest from market participants due to recent developments and broader market conditions.
Technical Indicators Provide Mixed Signals
Cardano’s BBTrend indicator has recently flipped into negative territory, currently sitting at -0.02 after reaching a positive peak of 5.28 just a day earlier. This sharp reversal highlights a potential shift in market sentiment, suggesting that bullish momentum may be losing strength.
The BBTrend indicator measures the strength and direction of a price trend, with values above +1 typically indicating a strong bullish trend and readings below -1 signaling bearish conditions. The current near-zero reading suggests market indecision or a possible trend reversal.
Meanwhile, Cardano’s Directional Movement Index (DMI) presents a somewhat contrasting picture. The Average Directional Index (ADX), which measures trend strength, has dropped to 34.29 from 43.41, indicating the current trend is weakening but still above the key 25 threshold.
The positive directional index (+DI) has climbed from 4.68 to 19.19, showing growing bullish interest, while the negative directional index (-DI) has sharply dropped from 44.92 to 22.18. This narrowing gap hints at a potential trend reversal, though ADA technically remains in a downtrend as -DI is still slightly above +DI.
Critical Support and Resistance Levels to Watch
Cardano price is currently attempting recovery after touching below the $0.52 mark, a key support level in recent weeks. If buyers manage to confirm their strength and sustain upward momentum, ADA could first test resistance at $0.629.
A successful breakout above that could open the path toward $0.70, and if bullish pressure continues, a further rally to $0.77 may be possible—reaching levels not seen since early 2024.
However, failure to hold current ground could push ADA back below $0.52. A move toward $0.51 would be the first critical test, and losing that level could drive Cardano below the $0.50 threshold for the first time since November 2024.
The most immediate and crucial resistance level is forming near $0.60, reinforced by a bearish trendline on the hourly chart. A clear move above $0.60 and the 61.8% Fibonacci retracement level of the $0.671 to $0.510 drop could trigger a new wave of bullish momentum.
If bulls fail to clear this resistance, ADA risks dipping to support near $0.568. A drop below $0.555 could bring the price back to $0.532, and possibly even test the psychologically important $0.50 level.
Cardano’s immediate price action will likely hinge on whether it can break through the $0.60 resistance. While the token has shown resilience in bouncing from recent lows, it continues to trade below the 100-hour simple moving average and struggles to build sustainable bullish momentum.
The coming sessions will be crucial in determining whether this attempted recovery has staying power or if another correction is on the horizon. With macroeconomic factors weighing on the broader cryptocurrency market, ADA’s price movement exists within a context of overall market uncertainty.
Cardano’s current position places it at a critical juncture where either a breakout or breakdown could materialize depending on whether bulls can overcome the key resistance level at $0.60.
As of Wednesday, Cardano (ADA) trades at $0.5677, down 3.15% in the last 24 hours with declining trade volume, suggesting market participants may be losing interest as the token approaches critical technical levels.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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