ADA Faces Make-or-Break Moment at $0.7448

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Cardano’s ADA is attempting to reclaim upward momentum on the daily chart, with price action currently hovering just below the $0.7448 resistance level.

That zone has been a challenge for bulls, serving as a point where sellers have repeatedly stepped in. A successful close above it could pave the way for a move toward the next major resistance at $0.8093.

ADA Momentum Shows Early Signs of Recovery

While short-term moving averages still sit above current ADA price levels, the narrowing gap between the 9-day and 20-day averages suggests that bearish pressure is slowing. This indicates that buyers are beginning to chip away at the downtrend, although momentum remains tentative.

Daily chart for ADA/USD (Source: GeckoTerminal)

The MACD remains slightly negative, showing that bullish control is not yet established. However, the histogram’s gradual movement toward the zero line points to improving sentiment, hinting at a potential bullish crossover in the coming days. The RSI’s recent climb from oversold levels into the mid-range suggests sellers are losing dominance, giving bulls a potential window of opportunity.

ADA Support Levels to Watch in Case of a Pullback

Should ADA fail to clear $0.7468, the first major support lies at $0.7014. A break below this level could trigger a drop toward $0.6814 and possibly $0.6712, levels where buyers may attempt to defend against deeper losses.

For bullish traders, a confirmed breakout above $0.7468 could present a long entry opportunity, with stops placed just below $0.7014 and profit targets near $0.8093. More cautious buyers may prefer to wait for a breakout and retest scenario. On the bearish side, traders may look for short setups if ADA faces rejection at $0.7468, targeting the lower support levels for potential exits.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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