Cardano

Million

Resistance

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>ADA price is hovering near its make or break region around $0.500.</a></li>
 <li><span>2</span> <a>Buyers are putting efforts and starting to accumulate.</a></li>
</ul>
<p>The ADA price has dragged below the 200 day EMA mark and is trying to pick momentum from its demand zone around $0.5000. A bearish crossover was spotted and sellers have showcased their muscles. For the past sessions, the Cardano coin has persisted in draining gains and eroded over 25% of the gains in the past two weeks. However, a hammer candlestick, followed by a range breakout candle was displayed directing the buying interest.</p>
<p>At press time, the Cardano <a href="https://www.thecoinrepublic.com/2024/04/20/the-befe-coin-price-projections-optimizing-investment-returns/" target="_blank" rel="noopener noreferrer nofollow">coin</a> (ADA) price traded at $0.5005 with an intraday gain of 4.47%, reflecting neutrality on the charts. It has a monthly return ratio of -23.27% and 22.15% on a yearly basis. The pair of ADA/BTC is at 0.00000756 BTC, and the market cap is $18.02 Billion. Analysts are neutral and suggest that the ADA coin may regain momentum and will surpass the 200 day EMA mark soon.</p>
<h2 class="wp-block-heading" id="strong-ada-price-volume-profile-on-daily-charts-strong"><strong>ADA Price Volume Profile On Daily Charts</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (ADA), Volume (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=avalanche&amp;pt=AVAX&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_kWRSV-k0V5YJ&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bcardano%3BADA%5D%3B%5B1%3Bvolume_usd%3Bcardano%3BADA%5D&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 daily chart of Cardano coin showcases a rebound in the intraday session, and buyers are eager to surpass the 200 day EMA mark. However, the sellers have made their grip near $0.5000, which has a challenge for the bulls. The intraday trading volume dropped over 20.29% to $449.86 Million.</p>
<h2 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-outlook-strong"><strong>Price Volatility and Weighted Sentiment Outlook</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=avalanche&amp;pt=AVAX&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_kWRSV-k0V5YJ&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bcardano%3BADA%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bcardano%3BADA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Following the price rebound, the token displays a spike in the price volatility curve in the last session. The price volatility curve noted a surge of over 4.90% to 0.02. However, the weighted sentiment looks negative and stayed below the midline around -0.704.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-social-volume-ai-overview-strong"><strong>Social Dominance and Social Volume AI Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (ADA), Social Volume AI (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=avalanche&amp;pt=AVAX&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_kWRSV-k0V5YJ&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Bcardano%3BADA%5D%3B%5B1%3Bsocial_volume_ai_total%3Bcardano%3BADA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Social dominance data noted a spike and jumped over 2.40% to 0.982%, noting a neutral outlook in the discussion reports. Similarly, the social volume AI data revealed average movement and stayed close to the midline around 37.</p>
<h4 class="wp-block-heading"><strong>Development Activity and Total Open Interest Insights</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (ADA), Total Open Interest in USD (ADA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=avalanche&amp;pt=AVAX&amp;df=2023-06-08T00%3A00%3A00.000Z&amp;dt=2024-04-20T18%3A29%3A59.476Z&amp;sat=shchcfg_kWRSV-k0V5YJ&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bdev_activity%3Bcardano%3BADA%5D%3B%5B1%3Btotal_open_interest%3Bcardano%3BADA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The development data witnessed a significant rise of over 21.67% and sustained above the midline around 472, showing a positive outlook. However, the derivative data signifies short covering data, the open interest sharply fell over 4.79% to $568.38 Million in the last 24 hrs.</p>
<p>Per the Fib levels, the Cardano price has taken support on the 23.6% zone and rebounded from the demand zone of $0.4800. Similarly, the RSI curve stayed in the oversold region, and a positive crossover was noted on the charts. The price action shows a bearish crossover and highlights the selling pressure in the past sessions.</p>
<p>The total supply of the ADA coin is 45 Billion, whereas the volume-to-market cap ratio is 0.0289, and it is ranked 11 in terms of market cap in the global crypto market.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The Cardano coin (ADA) price initiated a pullback and is displaying bull accumulation this week. Moreover, the coin has made a bottom around $0.4700 and gained momentum in the last sessions.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.4800 and $0.4500</p>
<p><strong>Resistance Levels:</strong> $0.5100 and $0.5300</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>

ADA Price Prediction: Cardano Near Major Support, What’s Next?

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