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<p>An analysis by crypto expert Nick Regan suggests that <a href="https://captainaltcoin.com/this-indicator-points-to-70-cardano-ada-price-rally/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA)</a> may face bearish pressure in the short term, despite potential for a brief upward movement. Regan’s examination of ADA’s price action reveals a complex interplay of technical indicators and macroeconomic factors influencing the token’s performance.</p>
<h2 class="wp-block-heading" id="strong-ada-s-price-action-and-technical-indicators-strong"><strong>ADA’s Price Action and Technical Indicators</strong></h2>
<p>Cardano’s price has lately fluctuated as noted by Regan. ADA tried a higher push on the 1-hour chart but ran up opposition at the 200-hour Exponential Moving Average (EMA). This rejection spanned $0.03397 to $0.0346.</p>
<p>Following the rejection, ADA underwent a bearish breakdown around 0600 hours, followed by a three-wave correction. This correction tested previous lows in the range of $0.03254 to $0.03287. The Stochastic Relative Strength Index (RSI) currently indicates overbought conditions on shorter timeframes, hinting at potential downward momentum.</p>
<h2 class="wp-block-heading" id="strong-macroeconomic-factors-and-market-sentiment-strong"><strong>Macroeconomic Factors and Market Sentiment</strong></h2>
<p>The U.S. Federal Reserve’s interest rate decisions have contributed to the broader market conditions affecting <a href="https://www.coingecko.com/en/coins/cardano" target="_blank" rel="noopener noreferrer nofollow">ADA’s price</a>. These macroeconomic influences have fostered an overall bearish sentiment in the crypto market.</p>
<p>Regan maintains a bearish outlook for ADA, viewing the current price movement as part of a larger corrective phase. However, he acknowledges the possibility of a brief push to the upside before a more substantial bearish move occurs.</p>
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<p><strong><em>Read also: I</em></strong><a href="https://captainaltcoin.com/is-solana-sol-price-set-for-a-move-toward-800/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>s Solana (SOL) Price Set for a Move Toward $800?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-trading-strategies-and-price-projections-strong"><strong>Trading Strategies and Price Projections</strong></h2>
<p>Regan highlighted several profitable trading opportunities from previous price movements, including bullish divergences and successful breakouts above key moving averages. The current strategy involves watching for a potential upward push before considering short positions on ADA.</p>
<p>On a daily timeframe, Regan expects ADA to test lower levels, potentially moving towards the $0.025 range. The price currently sits below several key moving averages, further supporting the bearish trend. Despite short-term bullish momentum, declining volume and lack of buying pressure suggest ADA may struggle to maintain upward movement.</p>
<p>Regan advises placing stop-loss orders slightly above key resistance levels, specifically around $0.0365. He views the current price levels between $0.02563 and $0.04224 as attractive for dollar-cost averaging and building long-term positions, despite the short-term bearish outlook.</p>
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<p>The post <a href="https://captainaltcoin.com/has-cardano-ada-price-already-peaked-this-bull-cycle/" rel="noopener noreferrer nofollow">Has Cardano (ADA) Price Already Peaked This Bull Cycle?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Has Cardano (ADA) Price Already Peaked This Bull Cycle?

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