ADA Price Prediction: Prepares To Revisit All Time Low At $0.74 As Hovers Near Critical Support
ADA price remains on the edge as it trades near a vital support level on Thursday. ADA sustains $0.80 on the lower side as sellers make a comeback ignoring Wednesday’s upside momentum. Multiple support near the mentioned support zone makes it a crucial level to trade. A break above or below this level will dictate further price action in the asset.
- ADA price continues to drift lower in the U.S session.
- Expect more downside toward $0.74 if breaks below $0.80.
- Momentum oscillators hold near the oversold zone with a bearish bias.
As of writing, ADA/USD is trading at $0.80, down 5.44% for the day.
ADA price awaits next catalyst
ADA price continues to fall after testing the highs of $1.64 on January 18, a 45% descent. However, after making the fresh lows on February 24 at $0.74 ADA price quickly recovered to reclaim the $0.80 mark.
Since then $0.80 acted as a vital support level as the price is managed to stay above for many weeks.
Continued selling pressure could breach the critical mark, which will initiate a fresh round of selling in the asset.
The immediate downside target can be located at $0.74. ADA price will crash further for fresh record low levels if downside momentum intensifies.
On the contrary, a bounce-back is expected if the ADA price sustains the session’s lows. Investors can test two upside filters. The first resistance hurdle is placed at a critical $0.90 level.
Next, the market participants will jump toward the 50-day EMA (Exponential Moving Average) at $1.01. As ADA price takes out $1.0 it will reverse the prevailing downtrend, and make a way toward $1.20.
Technical indicators:
RSI: The daily Relative Strength Index (RSI) slices below the average line with the current reading at 38.
MACD: The Moving Average Convergence hovers below the midline with a neutral bias.
- VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%
- Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks
- Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
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.
