Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Cardano (ADA) Price Holds Strong as Bulls and Bears Collide

Cardano (ADA) Price Holds Strong as Bulls and Bears Collide

BeInCrypto2024/11/27 07:30
By: Tiago Amaral
CLOUD0.00%ADA+2.95%
Cardano's bullish streak is faltering as key indicators show weakening momentum. ADA could either break higher to $1.20 or drop sharply to $0.51.

Cardano (ADA) price has surged 195.11% in the last 30 days, reflecting significant bullish momentum. However, key indicators like ADX and EMA lines suggest the current uptrend may be losing strength.

ADA could still push toward resistance at $1.15 and potentially $1.20 if the uptrend regains momentum. Conversely, a trend reversal could lead to a sharp correction, with prices potentially dropping to $0.51.

Cardano Current Uptrend Isn’t That Strong Anymore

Cardano DMI chart shows its ADX at 24, a notable drop from 60 just days ago. The ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, with values above 25 indicating a strong trend and values below 20 suggesting weak momentum.

The decline in ADX signals that ADA uptrend is losing strength and may enter a consolidation phase unless bullish momentum increases.

Cardano (ADA) Price Holds Strong as Bulls and Bears Collide image 0ADA DMI. Source: TradingView

With D+ at 22.5 and D- at 19, the positive directional indicator (D+) still outweighs the negative one (D-), suggesting the uptrend is intact but weakening. The narrow gap between D+ and D- reflects reduced bullish dominance, indicating that the market could shift toward neutrality or even a downtrend if selling pressure grows.

For ADA to maintain its uptrend, D+ would need to strengthen, pushing the ADX back above 25 to confirm renewed momentum.

Ichimoku Cloud Shows The Trend Could Change Soon

The Ichimoku Cloud chart for ADA shows a relatively stable uptrend, with the price trading above the cloud (Senkou Span A and B), indicating bullish momentum.

The Tenkan-Sen (blue line) and Kijun-Sen (orange line) remain close, reflecting consolidation after recent gains. The cloud itself provides strong support, as its rising structure reinforces the bullish sentiment.

Cardano (ADA) Price Holds Strong as Bulls and Bears Collide image 1ADA Ichimoku Cloud. Source: TradingView

However, the narrowing gap between the Tenkan-Sen and Kijun-Sen suggests weakening momentum, potentially leading to a short-term pullback.

If ADA fails to maintain its position above the Kijun-Sen, it could test the upper boundary of the cloud as support. On the other hand, a sustained move above current levels would confirm the continuation of the uptrend, with room for further growth.

ADA Price Prediction: A Potential 49% Correction

Cardano EMA lines remain bullish, with short-term lines positioned above long-term ones, indicating an ongoing uptrend.

However, the narrowing gap between these lines suggests weakening bullish momentum, signaling that the trend may soon lose strength unless buyers step in.

Cardano (ADA) Price Holds Strong as Bulls and Bears Collide image 2ADA Price Analysis. Source: TradingView

If Cardano price regains the strength of its uptrend, it could test resistance at $1.15, with the potential to rise to $1.20, marking its highest price since March 2022.

However, indicators like the Ichimoku Cloud and ADX hint at a possible trend reversal. If the uptrend breaks down, ADA price could face a sharp correction, potentially falling to $0.51, representing a 49% decline from current levels.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!
Bitget Announcement2025/09/12 07:46
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
New spot margin trading pair — LINEA/USDT!
Bitget Announcement2025/09/11 10:04

Trending news

More
1
New spot margin trading pair — HOLO/USDT!
2
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

Crypto prices

More
Bitcoin
Bitcoin
BTC
$116,067.89
+0.93%
Ethereum
Ethereum
ETH
$4,718.52
+4.56%
XRP
XRP
XRP
$3.17
+4.10%
Tether USDt
Tether USDt
USDT
$1
+0.04%
Solana
Solana
SOL
$242.65
+1.75%
BNB
BNB
BNB
$940.51
+3.64%
USDC
USDC
USDC
$0.9998
-0.00%
Dogecoin
Dogecoin
DOGE
$0.2942
+13.08%
Cardano
Cardano
ADA
$0.9459
+6.17%
TRON
TRON
TRX
$0.3534
+1.47%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter