What to know:
- Cardano (ADA) remains in a long-term bearish structure after its 2021 peak.
- The $0.24–$0.25 zone continues to act as critical support.
- Wanchain integration may support the long-term growth outlook.
Cardano (ADA) weekly chart shows a prolonged correction after its 2021 peak, forming a clear ABC structure. The price remains under pressure, with lower highs confirming a bearish trend. The $0.24–$0.25 zone acts as strong support, repeatedly preventing deeper declines so far.
A descending trendline continues to cap upside attempts, signaling persistent selling pressure. Meanwhile, Fibonacci resistance between $0.41 and $0.62 forms a key supply zone.
Any recovery toward this region may be rejected unless strong volume enters, making a breakout above $0.62 crucial for confirming a trend reversal, according to the crypto analyst More Crypto Online.
If ADA loses the $0.24 support, downside risk increases sharply. Fibonacci extensions suggest potential targets near $0.16, $0.09, and $0.04.
Overall structure remains bearish, but holding support could trigger a relief bounce, improving sentiment and indicating price may rise over the longer term.
Also Read: Cardano (ADA) Gains Value as Price Holds Above $0.253 Support
RSI and MACD Show Early Signs of Stabilization
Momentum indicators suggest a slight shift in market behavior, though strength remains limited. RSI currently stands at 51.62, while its moving average sits near 48.76, indicating mild bullish momentum.
The indicator remains above the neutral 50 level, suggesting buyers maintain control. However, the gradual slope reflects limited strength, signaling consolidation rather than a strong breakout phase right now.
The MACD indicates an early bullish trend: The MACD line is at 0.00093, which is slightly above the signal line at -0.00096, and the histogram is at -0.00189.
As the negative histogram decreases, this suggests that bearish pressure may be weakening, and if a bullish crossover occurs, it could strengthen the uptrend.
Wanchain Integration Strengthens Long-Term Outlook
The inclusion of RLUSD on Wanchain’s bridge has increased the number of networks where transfers can occur, such as the Cardano network. The addition of this capability to the Cardano network increases cross-chain connectivity.
The increased interoperability of Cardano is likely to lead to higher levels of usage by the network and attract capital into the Cardano ecosystem. Increased adoption of the platform via these integrations may help improve the market sentiment towards the price, making it bullish.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Cardano (ADA) Eyes Massive 2% Gain Amid Neutral Signals
Be the first to comment