Over the past three days, the cryptocurrency Cardano (ADA) has faced a decline, losing 5.2% of its value. Understanding its dynamics and potential scenarios will help investors make informed decisions.
Current ADA Price Dynamics
From March 20 to 23, 2025, ADA's price fell from $0.7438 to $0.7055. On March 20, ADA opened at $0.7438 and closed at $0.7180, with a trading volume of $674.6 million. On March 21, despite a volume spike to $1.56 billion, bearish pressure drove the price down from $0.7179 to $0.7044. On March 22, ADA hovered near key support of $0.70, opening at $0.7051 and closing at $0.7012, with a reduced trading volume of $333.9 million. By March 23, ADA was trading around $0.6971, showing a minor recovery but remaining in a consolidation phase.
Forecast for the Next Three Days
According to the latest price actions, ADA's next move depends on its ability to hold above $0.70 support. Two scenarios are possible. Bearish Scenario (60% Probability): If ADA fails to maintain $0.70, further declines to $0.6850 or even to $0.6700 by March 26 are possible, which would intensify the bearish trend. Bullish Scenario (40% Probability): If buyers step in near $0.70, there could be an attempt to recover to $0.72-$0.73. A sustained move above $0.7250 would signal renewed bullish sentiment with the potential to rise to $0.75 in the coming days.
Key Levels to Watch
Key support levels: $0.7000, $0.6850. Resistance levels: $0.7200, $0.7350. Monitoring market sentiment closely is crucial to ascertain ADA's next steps.
ADA's price remains in a critical zone, and observing market conditions will be essential to evaluate its future price developments.
