Recent analysis of Cardano's price suggests that the cryptocurrency could see a 15% rally targeting $0.790 soon, supported by favorable technical indicators and growing bullish sentiment among investors. The Relative Strength Index (RSI) and Awesome Oscillator (AO) highlight diminishing bearish momentum, hinting at a potential shift toward a bullish trend.
After hitting a peak around $1.326 in December 2024, ADA has been in a general downtrend, marked by lower highs. Positive signs emerged from a swing low at $0.506 in February, leading to subsequent higher lows. Although the current trend remains bearish, recent buy signals and improvements in RSI and AO suggest that ADA might be on the brink of a reversal.
Investors eyeing buying opportunities can consider entering the $0.665 to $0.684 zone, where technical formations indicate a flip from a supply zone to support potentially encourages further buy pressure. Analysts recommend a take-profit target around the fair value gap from $0.790 to $0.804 for those looking to capitalize on this movement.
Should ADA's price drop below $0.665, it could signal a weakening thesis, while a fall beneath the June 5 low of $0.616 might further extend the bearish trend. For traders, patience and timing will be key as the market evolves.
After hitting a peak around $1.326 in December 2024, ADA has been in a general downtrend, marked by lower highs. Positive signs emerged from a swing low at $0.506 in February, leading to subsequent higher lows. Although the current trend remains bearish, recent buy signals and improvements in RSI and AO suggest that ADA might be on the brink of a reversal.
Investors eyeing buying opportunities can consider entering the $0.665 to $0.684 zone, where technical formations indicate a flip from a supply zone to support potentially encourages further buy pressure. Analysts recommend a take-profit target around the fair value gap from $0.790 to $0.804 for those looking to capitalize on this movement.
Should ADA's price drop below $0.665, it could signal a weakening thesis, while a fall beneath the June 5 low of $0.616 might further extend the bearish trend. For traders, patience and timing will be key as the market evolves.
