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Cardano ($ADA) Price Prediction: Can ADA Hold $0.67 As RSI Hits Oversold Territory?

ADA trades near $0.67 amid volatility, holding support above $0.60 despite weak momentum.   Technical indicators remain bearish, with RSI oversold and MACD showing no bullish crossover.   Derivatives data...

Cardano ($ADA) Price Prediction: Can ADA Hold $0.67 As RSI Hits Oversold Territory?
  • ADA trades near $0.67 amid volatility, holding support above $0.60 despite weak momentum.  
  • Technical indicators remain bearish, with RSI oversold and MACD showing no bullish crossover.  
  • Derivatives data shows bullish positioning rising, even as overall trading volume continues to fall.

Cardano (ADA) is gaining attention as traders increase long positions despite mixed price action and weakening technical indicators. ADA has remained near $0.67 in recent sessions, following a surge above $0.685 before retracing.

As of price time, ADA was trading at $0.6702, recording a small 0.08% daily decline. The day’s trading pattern was volatile, with ADA rising early in the session before retreating toward the $0.658 level. The late rebound brought the price back above $0.66, but momentum remained limited.

AD 4nXeHfNnhYCEVGgB2057dpyX0EeOTkv3mlLSvFy ngM54i3utPsVtv1cFBlHryenOEqAVC6CU1jA7VeAt0skPjjQQQOXoElOdOapSuo9sd6zoARiHhoyf2TmMiOtPCKAuE 9K7BeI?key=GY JUfLqWLVQOpwFpbxKB tZ
Source: CoinMarketCap

The 24-hour trading volume dropped by 29.44%, settling at $463.79 million. Cardano maintains a market capitalization of $23.62 billion, holding the ninth spot among cryptocurrencies by market cap. Circulating supply stands at 35.24 billion ADA out of a maximum of 45 billion tokens.

Despite the overall downtrend through March, ADA continues consolidating above the $0.60–$0.62 support area. The price structure remains within an ascending trendline while approaching a descending triangle’s apex. Some analysts see this alignment as a key pivot point. A breakout above the triangle’s resistance could open a move toward the $1.20 region.

AD 4nXeplZKYc 6ycq1JUMuulE2qyEtsXqQbqdsu1YK Csod75yiWJgEj175L14Dq4W5SDin2Rp9a00DCSpl FVXc4wLc xrO9RsxydfPc2GTO7uosn46SkeF1HtK2f9YWbXCrVsxeZCGg?key=GY JUfLqWLVQOpwFpbxKB tZ
Source: X

Technical Indicators Reflect Ongoing Downside Pressure

Technical data shows weak buying momentum. The current Relative Strength Index value stands at 33.27, demonstrating market oversold positions while highlighting ongoing negative investor sentiment. The indicator has persisted under the crucial 50-neutral threshold for the last two weeks.

AD 4nXcxZzwJuup695QLCX3utbPQgbnn65x 52dd4oO eFTbcMZcDom TJCTjPh5yHxddHTZueyp w yKjlr5 VY06h5Q82m6GuR2TbQOTOF0 BIpwlNwOLFHkgw3ppiPfLPbY5qasBQUg?key=GY JUfLqWLVQOpwFpbxKB tZ
Source: TradingView

The Moving Average Convergence Divergence (MACD) remains negative. The MACD line reads -0.015, slightly under the signal line at -0.014, with no current crossover. The histogram shows minimal divergence, reinforcing the lack of immediate reversal signals.

Derivatives Market Shows Bullish Tilt Despite Volume Decline

While trading volume has decreased, data from major exchanges shows an increase in bullish positioning. The ADA/USDT long/short ratio is 2.90 on Binance and 3.61 on OKX. Top trader data also shows a bias toward long positions, with Binance accounts posting a ratio of 2.55 and positions at 1.12.

AD 4nXfBbzTxXtIlDTs5jKWdFhQd6WtLh7poJ6SsUNGiQaasS5ORBCDFE1T3Q5yMJDM2my2I5ABWyHv878qdEDim kpoJzfpDx XzUoRjTQwOiP1ba5fRbZzi54xE 0FLBTRjCKAKGEs Q?key=GY JUfLqWLVQOpwFpbxKB tZ
Source: Coinglass

Open interest remains stable at $791.83 million, showing only a 0.07% drop. The decline in options trading volume reached 92.94% while open interest dropped to 0.27%. The crypto market exhibited more losses from long positions due to $1.29 million in liquidations during the last 24 hours while short positions faced only $318.66K in liquidations demonstrating ADA gained support from unexpected trader movement.

FAQs:

$ADA attracts interest due to rising long positions and stable support near $0.60–$0.62, signaling the potential for a breakout.

Both RSI and MACD suggest bearish momentum, with RSI at 33.27 and MACD showing no bullish crossover.

Despite declining volume and stable open interest, long/short ratios on Binance and OKX show a bullish tilt.

Dan K

Dan is a seasoned wordsmith known for his sharp editorial insight, meticulous attention to detail, and passion for compelling storytelling.

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