Cardano

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>ADA price signifies minimal moves and is hovering around the 50 day EMA mark.</a></li>
 <li><span>2</span> <a>Buyers are attempting for a rebound and are eyeing the $0.8000 mark.</a></li>
</ul>
<p>The Cardano coin price signifies an uptrend and has persisted in forming the higher high swings for weeks. This week, the coin has retested the upward trendline and is close to the 50-day EMA support zone, from where a significant bounce is anticipated by analysts. However, the coin needs to surpass the prompt 20-day EMA hurdle to regain momentum, which will lead to retesting the upside of $0.8000 in the next sessions.</p>
<p>At press time, the Cardano coin (ADA) <a href="https://www.thecoinrepublic.com/2024/03/27/rndr-price-prediction-rndr-hovers-near-10-whats-next/" target="_blank" rel="noopener noreferrer nofollow">price </a>was trading at $0.6502 with an intraday drop of 0.10%, reflecting neutrality on the charts. It has a monthly return ratio of 5.90% and 76.19% on a yearly basis. The pair of ADA/BTC is at 0.00000921 BTC, and the market cap is $23.91 Billion. Analysts are neutral and suggest that ADA coin price may attain buying momentum ahead and will retest the upside hurdle of $0.8000 soon.</p>
<h2 class="wp-block-heading" id="strong-cardano-price-to-volume-profile-reveals-neutrality-strong"><strong>Cardano Price To Volume Profile Reveals Neutrality</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (ADA), Volume (ADA), RSI 1d (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=cardano&amp;pt=ADA&amp;df=2023-09-28T18%3A29%3A59.402Z&amp;dt=2024-03-28T18%3A29%3A59.402Z&amp;sat=shchcfg_S1VxLlpyIvfk&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd%3Brsi_1d&amp;wax=0%3B1%3B2&amp;wc=%2326C953%3B%23D2D6E7%3B%23FF5B5B&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22line%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22__appliedInterval%22%3Atrue%7D" scrolling="no"></iframe>
<p>The above data showed the ADA coin price to volume profile which revealed neutral price action and indecisiveness was witnessed. Along with the unclear trend, investors are in dilemma and closely eyeing the $0.6400. Recently, a rebound from the 100-day EMA mark was noted, which gives a conviction that buyers are anticipating a pullback ahead. The trading volume noted an increase of over 8.29% to $619.95 Million.</p>
<p>The relative strength index (RSI) curve is near the midline and shows convergence, whereas the MACD indicator shows a bearish crossover and is suggesting volatility swings lay ahead.</p>
<h2 class="wp-block-heading" id="strong-price-volatility-and-sentiment-analysis-strong"><strong>Price Volatility and Sentiment Analysis</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (ADA), Weighted sentiment (Total) (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=cardano&amp;pt=ADA&amp;df=2023-09-28T18%3A29%3A59.402Z&amp;dt=2024-03-28T18%3A29%3A59.402Z&amp;sat=shchcfg_S1VxLlpyIvfk&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The price volatility remained lower and stayed closer to the midline of 0.012 signifying the minimal movements. However, the weighted sentiment shows a steady outlook and the value remained in the positive territory, noting around 0.521.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-twitter-follower-data-outlook-strong"><strong>Social Dominance and Twitter Follower Data Outlook</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (ADA), Twitter Followers 7d (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=cardano&amp;pt=ADA&amp;df=2023-09-28T18%3A29%3A59.402Z&amp;dt=2024-03-28T18%3A29%3A59.402Z&amp;sat=shchcfg_S1VxLlpyIvfk&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Btwitter_followers_7d&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Per the Santiment data, the social dominance data shows nominal movements and remained below the midline around 0.718%, whereas the X followers data showcased a decline over 45% to -482.</p>
<h3 class="wp-block-heading" id="strong-what-does-open-interest-and-active-addresses-indicate-strong"><strong>What Does Open Interest and Active Addresses Indicate?</strong></h3> <iframe loading="lazy" title="Santiment Chart: Total Open Interest in USD (ADA), Total Amount Of Holders (ADA), Active Addresses 7d (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=cardano&amp;pt=ADA&amp;df=2023-09-28T18%3A29%3A59.402Z&amp;dt=2024-03-28T18%3A29%3A59.402Z&amp;sat=shchcfg_S1VxLlpyIvfk&amp;emcg=1&amp;emhwm=1&amp;wm=total_open_interest%3Bholders_distribution_total%3Bactive_addresses_7d&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%3B%3B%7B%22node%22%3A%22line%22%7D" scrolling="no"></iframe>
<p>The above data shows the derivative data a neutral outlook, whereas the open interest noted an increase over 0.31% to $440.45 Million, indicates that bulls are attempting for a rebound to retest the upside of $0.8000 soon. Moreover, the active addresses showed a steep decline and reached 136k.</p>
<p>Per the Fib levels, the coin has sustained gains above the 38.2% zone and might retest the 50% zone soon. The ADA coin has a total supply of 45 billion, and the volume to market cap ratio is 0.0259.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The Cardano coin (ADA) price chart shows minimal fluctuations and that ADA is holding on to gains near the trendline support zone of $0.6400. The trend is optimistic and the bulls may acquire momentum, which will help the crypto reach $0.8000.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.6200 and $0.6000</p>
<p><strong>Resistance Levels:</strong> $0.6800 and $0.7000</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Cardano Near Trendline Support, Is ADA Anticipating a Bounce?

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