This week, Cardano (ADA) continued to correct and reached a key support level at $0.65.
Price Falls to Key Support
Since December 2024, ADA has undergone a prolonged correction, bringing the price to 65 cents key support this week. Buyers showed interest here and managed to initiate a bounce that is still ongoing at the time of posting.
High Timeframes Remain Bearish
The weekly chart indicates that Cardano is dominated by sellers who control price action. To maintain this control, bears need to break the 65 cents level and turn it into resistance.
Daily MACD Shows Buyers Could Return
A positive signal comes from the daily MACD, which shows a clear bullish cross today. If support at 65 cents holds, ADA may have a chance to stop the correction. The coming days will be crucial, and a reversal is possible if sellers do not return with strength.
ADA is at an important support level, and future price movement will depend on the activity of buyers and sellers in the coming days.
