6 months ago
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The price of Cardano (ADA) has been trailing a descending trendline, acting as resistance in recent price movements. Breaking above this trendline could validate a shift in momentum and open the door for a stronger recovery. If the TD Sequential buy signal aligns with a breakout, it could fuel bullish sentiment.
On the downside, support around $0.45-$0.47 remains vital. Holding above this zone is key for maintaining a bullish outlook. If ADA loses this level, it may negate the buy signal and expose the price to further downside. The next resistance sits around $0.52, where a breakout could reinforce the recovery case.
If ADA’s price accepts the buy signal positively, a rally towards $0.50-$0.52 could be next in line. Nevertheless, very narrow Volumes Breakouts tend to get stuck as well. The number one rule for bulls is, above resistance, strong volume is a must to prove power.
If the price support gets broken, owing to the inability to sustain support, this may just be a sign of weakness. In this case, the next demand zone is what traders would like to pinpoint to gauge the risk towards the downside. The next few sessions will define if the buy is correct and breakdown happens, or if it is just some temporary buy and goes for a cancelation.
The price of Cardano (ADA) has been hovering around important boundaries, with movements in price reaching both its supports and its resistances. Top crypto analyst Ali (ali_charts) wrote on X that there must have been a sell-off based on the 4h ADX chart and the signal has now changed to a buy on the TD Sequential indicator, so a shift in trend may be underway.
It is evident, therefore, if the selling pressure does not ease and begins to shift towards the buyers, a rebound is more than likely in the works. For this setup to play out, ADA’s price needs to maintain its support which has been the case in the past in terms the historical data. A buy signal will come
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