Although Cardano (ADA) has fallen to low levels recently, being affected by the fluctuations in the cryptocurrency market, it continues to maintain its main support point of $ 0.25. In the last 24-hour period, the price of ADA moved between 0.25 and 0.26 dollars and increased by approximately 1 percent. CryptoAppsy According to data, ADA is currently trading at $0.26. This move showed that investors tended to defend the $0.25 support despite short-term selling pressure.
Critical resistance points in the technical outlook
Saltwayer, one of the market’s leading analysts, stated that ADA is still priced below a downward trend line and recent market sales have increased this pressure. Still, the support seen at $0.25 indicates that the chances of a short-term recovery remain.
It is emphasized that if this range is broken downwards, the price may decline to $0.24 or even $0.22. For now, it stands out that buyers at this level are reacting to the market and trying to prevent a deeper decline.
In his assessment, Saltwayer stated that Cardano maintains support near $0.25, but unless the trend line is broken, there is no clear upward momentum.
Above, the range between $0.27 and $0.28 is observed as the first resistance zone. If the price exceeds this point, it is thought that the price movement will turn in favor of the bulls. However, as long as it remains below these levels, the current structure does not turn into a clear upward trend despite the reactions received from the support.
Approval expectations continue in the short term
Popular crypto analyst Mr. In the chart shared by CryptoCeek, it can be seen that the ADA price is at the decision stage in the moving averages. The 20-day exponential average at $0.26 stands out as an indicator of short-term strength.
The hold above $0.26 indicates that the recovery is continuing. However, if the price falls below this average, it is stated that Cardano may return to a horizontal and stagnant image. It is shared that a clear close above the moving averages is needed for the upward momentum to consolidate.
While the $0.31 level stands out as the main resistance point, if this is exceeded, the $0.36 and $0.40 levels may turn into medium-term targets. In particular, the recovery of the RSI indicator is also important for the price to gain strength, but there is no movement confirming this yet.
Short-term risks and long-term picture
On the other hand, the data of technical analyst named Creed points to short-term risks. ADA price saw a strong rejection in the area where the high volume of sell orders were located, and this area identified the $0.27–$0.28 range as the level where the market should regain.
Creed stated that the last price movement encountered sellers in the resistance zone above, and that these levels must be exceeded for ADA to truly start a new upward wave.
In long-term macro charts, it was revealed that Cardano was generally traded in lower bands within a wide structure. Capt. According to Parabolic Toblerone’s analysis, a major upside reversal is likely to begin if the short-term squeeze resolves and ADA breaks above $0.30–0.31. However, before these levels are reached, strong supports must be defended.
May closing and general outlook
In order for ADA to close May positively, it must not lose the support of $ 0.25 and, if possible, remain above $ 0.26. The first serious signal for the continuation of the rise will come when the price crosses the $0.27–0.28 range. The most important structure stands out as exceeding the $0.30-0.31 region.
Otherwise, a fall below $0.25 could weaken the chances of a recovery and push the price to $0.24 in a short time. Although it is currently too early to talk about any uptrend in Cardano, a positive picture for the end of May seems possible as long as the $ 0.25 region is maintained.
