Cardano (ADA) has recently been oscillating around $0.38, a position regarded by the market as the short-term support and resistance level. Although there has been a slight rebound intraday, the overall technical structure remains weak. Analysts generally believe that once the key support is broken, ADA faces the risk of further retracement to $0.29.
From a technical perspective, the $0.38–$0.36 range is an important recent support zone, where buying interest has historically emerged multiple times. However, the current price has broken below the previous consolidation zone, and demand has not yet significantly strengthened. If buyers cannot effectively defend this area, downward pressure on Cardano’s price will markedly increase.
Crypto analyst Ali Martinez pointed out that the SuperTrend indicator on higher timeframes for ADA has turned bearish. Historical data shows that after similar reversals, Cardano often enters a prolonged correction phase. This signal further reinforces market caution regarding the short-term outlook.
Additionally, Cardano’s price recently broke below the long-term price channel on the daily chart, making $0.29 a new technical focal point. This level coincides with previous accumulation zones and historical demand areas. If selling pressure persists, it could become an important support test level in the next phase.
It is worth noting that on-chain data shows some resilience. Driven by progress related to the NIGHT protocol ecosystem, the trading volume on decentralized exchanges (DEX) for Cardano has recently increased by approximately 2–3 times, indicating a rebound in network activity. However, the market generally believes that in the context of a weak overall crypto market, on-chain activity may not quickly reflect in price movements.
In the long term, ADA’s adoption rate still provides support. Data shows that Cardano ranks among the most popular cryptocurrencies in India, with the number of holders surpassing projects like Solana and Polygon. This provides a certain foundation for its long-term value, but short-term prices are still mainly influenced by technical structures and market sentiment.
Overall, $0.38 remains the most critical observation level for ADA. Holding this support may help stabilize and consolidate the price; once broken, $0.29 will become the key downside target for the market. The short-term trend still requires a comprehensive assessment considering Bitcoin’s performance and overall market risk appetite.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
PEPE Price Holds Support as Bearish Bets Build Pressure
Key Insights:
PEPE price stabilizes near strong support despite sustained negative funding rates, highlighting a clear divergence between trader sentiment and actual market behavior.
Declining open interest and reduced liquidation activity indicate leverage reset, suggesting the market has c
CryptoNewsLand8m ago
Zcash Price Rally Gains Pace as Shielded Pools Hit Record
Key Insights:
Zcash surged 25% daily and over 60% monthly as strong demand for privacy features drove increased investor participation across the network.
Shielded pool holdings reached $5.18 billion, showing over 31% of supply now locked in private transactions, signaling stronger user
CryptoNewsLand17m ago
'Bitcoin ETF Performance Pales Next to Gold': Mike McGlone - U.Today
Mike McGlone, a Bloomberg strategist, argues that Bitcoin ETFs may not drive long-term growth for Bitcoin, which has underperformed compared to gold. Despite recent gains, Bitcoin's performance seems capped, suggesting a potential peak in crypto enthusiasm.
UToday1h ago
XRP Eyes $1.60 as April History Shapes Market Expectations
Key Insights:
XRP historical April data shows sharp gains and losses, with 2021 marking a 180% surge while recent years reflect declining monthly performance trends.
Current price consolidation between $1.28 and $1.36 suggests reduced volatility, signaling a potential breakout as traders mon
CryptoNewsLand1h ago
Cardano Price Holds Gains as Bullish Signals Strengthen
Key Insights
Cardano trades above $0.25 as steady recovery continues, supported by improving sentiment and growing engagement across crypto discussions among market participants globally.
Derivatives data show rising long positions and positive funding rates, indicating traders
CryptoNewsLand1h ago
XRP Struggles Below $1.35 as Bearish Signals Build
XRP is under significant selling pressure after repeated rejections at resistance around $1.35. Weak momentum indicators and rising short interest suggest increased downside risk, with critical support at $1.30-$1.28. A break below this level could lead to further declines.
CryptoNewsLand1h ago
