The Cardano coin price indicates an upward trend with higher high swings over the past few weeks. Currently, the coin is testing the upward trendline and is close to the 50-day EMA support zone. Analysts predict a significant bounce from this support area, but the coin must surpass the 20-day EMA hurdle to regain momentum. This rebound could lead to a retest of the $0.8000 mark in the upcoming sessions.

The current price of Cardano (ADA) is $0.6502, with a slight intraday drop of 0.10%. The monthly return ratio is 5.90%, and the yearly return stands at 76.19%. The ADA/BTC pair is at 0.00000921 BTC, with a market cap of $23.91 Billion. Analysts suggest that the ADA coin price might gain buying momentum and reach the $0.8000 mark soon.

Exploring Cardano's Price to Volume Profile

Analyzing the ADA coin price to volume profile shows neutral price action and indecisiveness in the market. Investors are closely watching the $0.6400 level for potential price movements. Recent rebound from the 100-day EMA indicates that buyers are anticipating a pullback. The trading volume has increased by over 8.29% to $619.95 Million.

The RSI curve is close to the midline, exhibiting convergence, while the MACD indicator suggests potential volatility swings in the near future.

Understanding Price Volatility and Sentiment

Price volatility remains low, indicating minimal movements, while the weighted sentiment remains positive around 0.521.

Insight into Social Dominance and Twitter Follower Data

Social dominance data shows minimal movements, staying below the midline at 0.718%. Meanwhile, Twitter follower data has declined by over 45% to -482.

Analysis of Open Interest and Active Addresses

Derivative data presents a neutral outlook, with open interest increasing by 0.31% to $440.45 Million. Active addresses have seen a sharp decline, reaching 136k.

Fibonacci levels suggest that the coin has maintained gains above the 38.2% zone and could soon retest the 50% zone. Cardano has a total supply of 45 billion, with a volume to market cap ratio of 0.0259.

Conclusion

Cardano's price remains stable near trendline support at $0.6400, showing potential for an uptrend towards $0.8000.

Technical Levels

Support Levels: $0.6200 and $0.6000

Resistance Levels: $0.6800 and $0.7000

Disclaimer

The information provided in this article is for informational purposes only and does not constitute financial or investment advice.