• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cardano: Reversal Opportunities Amid Price Drop

user avatar

by A1

16 days ago


Cardano (ADA) has experienced a sharp decline, but recent data suggests a possible reversal, intriguing investors.

Cardano's Price Drop and Buy Signal

The daily chart for Cardano shows a TD Sequential buy signal, hinting at possible exhaustion of selling pressure. ADA price fell to $0.876, an 8.08% loss for the day. However, this buy signal might indicate the beginning of an upward move.

The presence of a buy signal doesn't guarantee an immediate reversal.

Current Market Situation

Like the broader market, Cardano has plunged. Its price dropped to $0.85 before slightly recovering to $0.923. A 168.10% spike in trading volume to $1.3 billion shows interest in buying ADA at lower prices. An observed drop to $0.869 was followed by a bounce, supported by the TD Sequential buy signal.

Technical Analysis and Cardano's Prospects

Technical analysis reveals Cardano was in a steady downtrend. Current consolidation around $0.92 suggests rising buyer activity. Breaking the $0.94-$0.95 resistance may lead to $1.00 and beyond. However, a return to recent lows around $0.85 remains possible if current levels aren't maintained.

Technical signals point to potential recovery, but Cardano's price is also influenced by external factors, including Bitcoin's volatility.

0

Share

Other news

Launch of First US Crypto ETF: Hashdex and Nasdaq Index

The first US crypto ETF by Hashdex and Nasdaq offers investors access to the crypto market.

user avatarA1

7 minutes ago

Blockchain Revolutionizes Gaming: MetaShooter, The Sandbox, and Voxie Tactics

Exploring blockchain's impact on gaming with MetaShooter, The Sandbox, and Voxie Tactics examples.

user avatarA1

7 minutes ago

OpenSea: New OS2 platform to offer cross-chain crypto token trading

OpenSea upgrades platform for cross-chain token trading with support for ApeChain and BSL.

user avatarA1

8 minutes ago

TON Chain and Telegram Launch New NFT Era with Gifts

TON and Telegram foster a new wave of NFTs by transforming gifts into valuable on-chain assets via Stars.

user avatarA1

8 minutes ago

Jupiter DEX to Initiate JUP Token Buyback to Create Reserve

Jupiter DEX launches JUP token buyback starting February 17 to create a reserve and boost demand.

user avatarA1

8 minutes ago

Litecoin on Track to $200: Key Resistance and Support Levels

Litecoin may reach $200 by holding key levels. Analysis of current trends and holder profitability.

user avatarA1

9 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.