Claim BonusCardano Could Find Strong Support Level Despite Bitcoin Headwinds
That cryptocurrencies are supposed to be decentralized in many ways is a fundamental requirement behind the technology. Likewise, a few coins like Cardano (ADA) have deviated from the ongoing Bitcoin price crash. Also, Cardano support level is likely to find a relatively strong position even as macro economic trends are not faring well. Analysts see this as a welcome trend at a time when Bitcoin is at its lowest in the recent past.
Strong Cardano Price Action When Bitcoin Is Falling
Bitcoin is down by around 6% in the last 24 hours, trading at just over the $22,000 mark. Meanwhile, Cardano price action is on the positive trajectory, up by around 10% as of writing. Technical indicators appear to be suggesting a minor blip in the coin’s price.
Tomorrow’s likely announcement of interest rate increase by the Fed is likely to have an impact on Cardano, according to analysis by trader Sheldon Sniper. Adding to this is the overbought signal on the Stoch RSI on the four hour chart, he added.
Cardano Support Looks Good In Short Term
On Monday, Cardano support was found to be around the $0.45 level. It was followed by bounce to the upside towards the next resistance zone, which was around $0.50.
More importantly, Cardano is not likely to drop significantly in the short term, as the next support is likely to be around $0.40 or $0.45.
“If there is a drop, support areas are at $0.45 and $0.40.”
As of writing, ADA price is trading at $0.49, up 9.04% in the last 24 hours, according to CoinMarketCap. Comparatively, Bitcoin is trading at $22,199, down 4.92% in 24 hours.
A Cardano community page on Twitter by name Cardanians suggested several reasons behind the coin’s capability to withstand the current bear market.
“Cardano is currently deployed in developing countries and is used by Dish, a Fortune 500 company. There is no reason to stop because of the cost of the ADA. Cardano is a mission-oriented project. Its mission is not dependent on price speculation.”
They stated that the Cardano project has everything it needs to survive. There is interest from people, businesses, and governments, they added.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: South Korea Finalizes its Digital Asset Bill Draft Amid Crypto Push
- 8 Best Platforms to Buy Bitcoin ETFs in 2026 – Top Picks Reviewed
- UChain Trends Sideways Despite Market Downtrend
- 5 Reasons Why Bitcoin Price Could Crash This Week
- Ethereum Whales Buy $375M Worth of ETH Amid Its ERC-8004 Upgrade This Week
- Shiba Inu Price Outlook As SHIB Burn Rate Explodes 2800% in 24 Hours
- Pi Network Price Prediction as 134M Token Unlock in Jan 2026 Could Mark a New All-Time Low
- Bitcoin Price Outlook as US Dollar Index Hits 4-Year Low, Gold Soars
- Stock Market Today: Nasdaq, Dow, S&P 500 Futures Rise Ahead of Fed Meeting, and Jobless Claims
- Bitcoin And XRP Price Prediction Ahead of FOMC Meeting Today, Jan 28
- XRP Price Prediction as Ripple Scores Big Partnership in Cash-Rich Saudi Arabia
