Cardano, a popular cryptocurrency, is experiencing a slight recovery following a significant drop last week. Analysts point to possible price pullbacks, drawing traders' attention.
Overview of Cardano and Current Prices
At the time of writing, Cardano is priced at $0.7410, which is up 2.17% over the past 24 hours but still down 10.69% for the week. The token holds a market capitalization of $26.25 billion and has recorded $711 million in trading volume in the last 24 hours.
Bullish Scenario for ADA
If ADA manages to maintain its price above the $0.73–$0.74 support range, buying pressure could return, driving the price back toward $0.76 and potentially beyond $0.78. A decisive break above these levels might set the stage for a retest of the $0.80 psychological resistance, which could reignite bullish momentum in the coming weeks.
Bearish Scenario and Forecasts
On the downside, failure to hold the current support could see ADA retracing toward $0.71 and, in a more pronounced sell-off, back to the $0.68–$0.69 region. Such a move would confirm the TD Sequential signal’s bearish outlook, possibly delaying any significant recovery.
For now, ADA’s short-term direction hinges on whether buyers can neutralize the sell signal’s impact, with market sentiment likely to dictate the token’s path in the days ahead.
