Cardano (ADA) has experienced a significant decline in price over the past week, with a crash of 25.85% and a further 8.52% decline in the last 24 hours. However, some analysts are still optimistic about ADA's future. A technical analysis chart by prominent crypto analyst Dan Gambardello suggests a potential rally towards $10 if ADA can maintain its support levels and break resistance at $1.50. Key technical indicators such as the daily Relative Strength Index (RSI) and the Bollinger Bands show neutral to slightly oversold market conditions and high volatility respectively, indicating the possibility of upward price movement. The 20-day Exponential Moving Average (EMA) at $0.80 is acting as a crucial resistance level, and a successful reclaim of this level could lead to a price recovery towards $1.00. However, readers are advised to exercise caution and not consider this article as financial advice.



Other News from Today