ADA Coin Price Records Reduced Price Action!

The Cardano price has dropped ~2% in the past 24 hours but has added 3.98% over the past week. Moreover, with a monthly gain of 7.09%, it is currently trading at a discount of 40.07% from its price tag of $0.6021 which was recorded on 1st January.

The Moving Average Convergence Divergence (MACD) records a constant decline in the red histogram. Further, with its averages hinting at a potential bullish convergence, the ADA price indicates a potential bullish reversal during the upcoming time.

On the other hand, the SMA indicator records a bullish curve by constantly supporting the price chart in the 1D time frame. This highlights an unstable price action for the 11th largest cryptocurrency this week.

What Is The Prediction For Cardano In 2024?

If the market favors the bulls during the final leg of the financial year, the ADA price could potentially retest its resistance level of $0.4075. Moreover, if the bullish sentiment sustains, the Cardano token could head toward its major resistance zone of $0.50.

On the negative side, if the bears dominate the crypto space or the project experiences a setback, this could result in the ADA crypto plunging toward its crucial support trendline of $0.33 in the coming time.$ADA