- Cardano’s price recovery faces resistance at $0.668, indicating a key hurdle.
- Bearish RSI and MACD suggest further downside risk for $ADA in the short term.
- Strong support at $0.625 may act as a potential bounce zone for $ADA.
The cryptocurrency community is buzzing with excitement over Cardano ($ADA) and its potential for significant price gains. Mintern an analyst predicts that $ADA could hit anywhere between $3 and $5 this cycle, fueled by its rapid transaction speeds and impressive decentralization. Cardano is often seen as one of the most promising decentralized platforms, second only to Ethereum in terms of network performance.
BREAKING NEWS:$ADA WILL HIT $5 EASILY 😱🔥
— Mintern (@MinswapIntern) April 3, 2025
Alex Becker @ZssBecker says Cardano is by far the #1 easiest bet right now. $ADA's easily going to $3.00 to $5.00 because it's fast as hell and the most decentralized reasonable chain next to Ethereum.
Other decentralized chains… pic.twitter.com/zCU0NqoXLr
Cardano’s Current Price Movement
At press time, $ADA is trading at around $0.6459, showing a slight 0.29% increase in value for the day. This modest rise is part of a V-shaped recovery pattern observed over the past 24 hours. After hitting a low of $0.625, $ADA managed to rebound strongly, peaking near $0.668 before retracing slightly back to its current price.
This price action suggests that the coin is attempting to find stability, but it is still facing some challenges in breaking past significant resistance levels. Consequently, the price may continue to fluctuate until a clearer trend emerges. Hence, monitoring key support and resistance levels will be crucial for anyone looking to make informed decisions about $ADA’s price trajectory.
Key Support and Resistance Levels to Watch
Support and resistance levels play a crucial role in determining the next potential price moves for Cardano. The strongest intraday support level is located at $0.625. This level has acted as a bottom for the price, where a reversal occurred earlier today. If $ADA drops to this level again, there is a good chance that it may bounce back.
On the upside, the price is currently facing resistance at $0.668, which has capped the upward movement for now. A breakout above this level could potentially signal the start of a more significant price rally. Minor resistance is also present at $0.650, a level that $ADA has tested multiple times without sustaining a breakout.
Technical Indicators: Mixed Signals
Looking at technical indicators, the RSI (Relative Strength Index) stands at 40.41, suggesting bearish momentum. This indicates that there is still room for further downside before buyers might step in. The RSI remains below the neutral 50 level, showing that $ADA is currently in a weak state.
Furthermore, the MACD (Moving Average Convergence Divergence) is also sending bearish signals. With the MACD line below the signal line and both below zero, it confirms that $ADA is currently in a downtrend. This suggests that unless there is a significant shift in momentum, $ADA could continue to face downward pressure.
