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ADA Maintains Key Support Amid Downward Pressure
Cardano (ADA), one of the world’s leading cryptocurrencies, has successfully held above the crucial $0.61 support zone, where strong buying momentum has prevented further declines. Over the past several days, ADA’s price has repeatedly tested the $0.60 to $0.63 range, solidifying this area as a vital level for buyer accumulation and ongoing demand in the crypto market.
Price Action and Resistance Levels
At present, ADA is trading near $0.665, marking a 3.52% increase. Despite this rebound, Cardano continues to follow a bearish chart structure and has yet to surpass the significant resistance at $0.74. Each approach toward this resistance has seen quick corrections, highlighting persistent selling pressure around this psychological level.
Technical Indicators Point to Uncertain Outlook
The Supertrend indicator continues to signal a bearish trend, suggesting that downward momentum may still dominate ADA’s short-term price action. However, there are positive signs for bulls: the Relative Strength Index (RSI) has bounced off its lower range, indicating an increase in buying strength that could drive further upside.
ADA Price Forecast: Can Bulls Overcome Stiff Resistance?
Looking ahead, Cardano (ADA) may be poised to push above $0.69 if buying activity remains strong. Nevertheless, a definitive breakout above the $0.74 resistance remains uncertain, as market sentiment and high sell volume continue to cap upward moves. Crypto investors should watch these key levels closely for signs of a potential trend reversal in the blockchain asset’s price trajectory.
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