Cardano (ADA) is facing heightened selling pressure as it tests a crucial support zone. On the 4-hour chart, bearish sentiment dominates, with multiple technical signals aligning to suggest a potential continuation lower unless buyers intervene soon.
At the time of writing, ADA is trading at $0.6242, reflecting a 2.75% decline. The price has been in a persistent downtrend, struggling to reclaim key levels after a sharp rejection from the $1.20 zone.
This zone is pivotal. A breakdown could open the door to a deeper move toward $0.55.
Bulls need to reclaim this area to shift short-term sentiment and target the next resistance at $0.80.
The trend remains decisively bearish, with consistent lower highs and failed breakout attempts. Volume has also been declining, reflecting weakening bullish conviction and sustained control by sellers.
The MACD remains below the signal line and in negative territory, indicating continued downside momentum. No bullish crossover is present, signaling a lack of immediate reversal strength.
Estimated between 30–40, the RSI shows bearish momentum but hasn’t yet entered oversold territory. This leaves room for further downside before a technical bounce is likely.
Though not shown, Bollinger Bands likely show price hugging the lower band, suggesting persistent pressure with a possible volatility expansion if support fails.
A bearish pattern with flat support around $0.62 and descending resistance. A breakdown would likely trigger a sharp drop toward $0.55.
A weak consolidation after the steep fall from $1.20 resembles a bear flag, often a precursor to further decline.
The $0.90–$0.95 rejection formed a clear double top in March — a reversal pattern that played out into the current downtrend.
The overall price arc from February to April shows a rounded top, signaling exhaustion of bullish momentum and long-term weakness.
ADA is teetering at a critical point. A break below $0.62 could accelerate the sell-off to $0.55, while a push above $0.70 may ignite a short-lived relief rally toward $0.75–$0.80. However, momentum and structure currently favor the bears.
Cardano (ADA) is caught in a bearish grip, with multiple indicators and patterns pointing to potential downside continuation. Unless buyers step in at key support with strong volume, further losses remain likely. Traders should monitor for a confirmed breakout or breakdown to guide their next move.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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