ADA continued to correct this week and has arrived at a key support.
Key Support levels: $0.65
Key Resistance levels: $0.90
1. Price Falls to Key Support
Since December 2024, ADA has entered a long correction which has taken the price to the 65 cents key support this week. Buyers appeared interested here and managed to push this cryptocurrency into a bounce which is still going at the time of this post. Hopefully, the correction stops here.
2. High Timeframes Remain Bearish
The weekly timeframe shows that Cardano is dominated by sellers which have control over the price action. To maintain their control in the future, bears will have to push the price under 65 cents and turn this level into a key resistance.
3. Daily MACD Shows Buyers Could Return
One positive signal is given by the daily timeframe MACD which shows a clear bullish cross today. If this is maintained and the support at 65 cents holds, then ADA will have a clear window to stop the correction. The coming days will be decisive and a reversal becomes possible if sellers don’t return in force here.
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Cryptocurrency charts by TradingView.
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