I share my journey in crypto trading with insights, analysis, and market thoughts . Most of my posts are about trading and what I see happening in the market.
Cardano (ADA) dropped 1.38% today and is now trading at *0.816*. It’s currently below its short-term averages (20-day and 50-day), which means the market is under short-term selling pressure. But it’s still above its 200-day average (0.735* — a sign that the long-term trend is still holding up.
What the charts are saying:
- Technical indicators show ADA is *oversold* — the *RSI is at 36.6*, which usually means a bounce could happen. - Other signals like the *CCI* and *Stochastic RSI* also suggest weakness. - However, unless there’s a *boost in buying volume*, any bounce might be small. - ADA may stay between *0.768 and0.790* in the short term.
*Looking ahead: Positive signs for the long term*
Even though the short-term outlook is shaky, there are a few *reasons to be optimistic* about ADA’s future:
- Chances of a *Cardano ETF* getting approved are rising — now estimated at *9%*. If that happens, it could attract big investors. - The *Cardano Foundation* has shared a new roadmap, investing in DeFi, governance, and ecosystem growth. - *Big players (whales)* are buying more ADA, and companies like *Reliance Global* have added it to their portfolios. If ADA can break past the *0.868 resistance* level (a key technical point), it could confirm a stronger recovery.
An expert from Traders Union says ADA still looks weak technically unless it goes above *0.868*. For now, it may just move sideways or dip slightly over the next few days.
But looking 6–12 months ahead, if momentum builds — especially with ETF news and institutional interest — ADA could climb to around *1.20 to1.38*.
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