An analysis of the current price situation of Cardano (ADA) shows signs of a potential reversal after a period of decline. The study includes data from the TD Sequential indicator and the determination of support zones.
TD Sequential Signals Possible Reversal
On the daily chart of ADA against the US Dollar, a significant signal from the TD Sequential indicator has been identified. According to a chart shared by Ali Charts, a '9' signal appeared on April 5, indicating that the recent bearish momentum may be exhausting.
Strong Support Zone for Cardano
Since early November 2024, Cardano has tested the $0.57–$0.60 support zone multiple times, which remains important for buyers. Recent price action shows signs of buyers actively defending this key level.
Descending Trendline Represents Key Resistance
The analysis also revealed that a descending trendline marking lower highs since December 2024 may pose a serious barrier to price increases. A breakout above this line could signal a decisive trend reversal.
Thus, the current state of Cardano (ADA) price indicates a possible reversal, with strong support and key resistance levels expected to determine further movement.
