- ADA is displaying movements near the 2-hour resistance zone, and if it fails to close above the $0.258 level, it might trend downwards towards the $0.25 level.
- If the decline continues below the $0.25 level, considering stop-loss strategies below $0.253 can be prudent, with a target at $0.271.
- However, if ADA sees strong buying interest at the $0.25 level, it could progress towards the $0.257 and then $0.264 targets.
Cardano (ADA) is facing movements near the 2-hour resistance zone, and if it fails to close above the $0.258 level, it may transition into a bearish trend. The $0.25 level is crucial support. On the other hand, surpassing the $0.287 level is necessary for an upward trend. Therefore, investors should closely monitor these levels.
MEDIUM-TERM ADA COIN PRICE ANALYSIS
The Cardano (ADA) price chart is showing sideways movements in the support region and is currently trading at $0.2553 at the time of writing. It has seen an increase of over 1.40% today.
According to the analysis, if the ADA price can achieve daily candle closes above $0.238, it may aim to continue the upward movement first towards the $0.268 level and then towards the $0.287 levels. These levels are significant resistance points to watch for investors.
However, for Cardano to restart the uptrend, it must break above the $0.287 level. If ADA can close above $0.287, it is expected that the downward movement will continue to the $0.272 level, and then the $0.30 level can be considered as the next target.
SHORT-TERM ADA PRICE CHART
When we examine the 2-hour technical chart of Cardano, it can be observed that the price is making movements near the 2-hour resistance zone. If ADA price fails to achieve 2-hour candle closes above the $0.258 level, it might consider extending the downward movement towards the mentioned $0.25 levels in the analysis.
If the Cardano price drops to $0.25, a stop-loss strategy below the $0.253 level could be considered, and the trade could be monitored aiming for the $0.271 level.
However, if ADA price encounters strong buying demand around the $0.25 level, the initial target could be $0.257, followed by a potential move towards the $0.264 level. However, if ADA price closes 2-hour candles below $0.247, it could potentially expand the downtrend towards the $0.242 level.
