- ADA has declined 1.5%, with support at $0.9364, while trading volume remains strong at $629.9M.
- ADA struggles near $0.98, forming a symmetrical triangle, hinting at a possible 40% breakout if bullish momentum builds.
- MACD signals weakness, and RSI at 46.75 shows a neutral stance, leaving ADA awaiting a decisive move.
Cardano (ADA) has recently faced a turbulent period, hitting a low of $0.9373 leading to a massive sell-off in the cryptocurrency market. ADA/USDT current trading volume is $629,980,170 , which has led ADA to a 1.5% decline over the last 24 hours. This drop follows a downward trend since its recent high near $1.20.
With the price sitting just above a critical support zone, the coming days could shape ADA’s trajectory for early 2025. According to analyst of technical indicators Ali, the Cardano $ADA token has formed a symmetrical triangular pattern that indicates the potential start of a 40% price increase.
Cardano Key Support and Resistance Levels
Cardano’s immediate support lies at $0.9364 a significant level formed during previous consolidations. If this zone holds, the price might consolidate near $0.98. However, a decisive break below $0. 93 could lead to further declines, with $0.90 serving as the next critical support level.
Additionally, ADA’s value against Bitcoin (BTC) is 0.059175 BTC, showing a 0.6% increase, indicating that while ADA has weakened in dollar value, it has performed slightly better when compared to Bitcoin. The narrow trading range indicates a consolidation phase, where ADA is struggling to break above $0.98. If the price can breach this level, it could trigger further upward movement.
ADA RSI and MACD Technical Indicators
Source:Trading View
ADA’s technical indicators suggest a mild bullish trend with the Relative Strength Index (RSI) currently trading at 46.75, indicating a neutral market with no extreme overbought or oversold conditions.
In the meantime,the MACD line is trading below the signal line suggesting that ADA price momentum is weakening with bears in control.Conversely the trading bars are red showing a bearish signal and indicating potential downward price momentum. Overall, ADA remains in a consolidation zone, awaiting a decisive breakout in either direction.
