#ADA Price
Key Levels to Watch for Spike
The Cardano price chart shows a downward trend within a descending channel. The price is currently trading near the upper boundary of this channel, suggesting a potential resistance area around $0.40.
The 50-day EMA (green line) is below the 200-day EMA (black line), reinforcing the bearish trend. However, the price action is currently trying to remain above the 50-day EMA, indicating a possible shift in momentum. The ADA price will likely find resistance around $0.40â$0.42, and the 200-day EMA at $0.4355.
The Chaikin Money Flow (CMF) indicator is positive (0.21), indicating buying pressure. This suggests accumulation is occurring, providing a basis for a potential upward breakout if sustained.
If Cardano price closes above $0.4355 (200-day EMA) with strong volume, it could confirm a longer-term trend reversal, ideal for long-term entry. Potential targets could be around $0.50, 0.60, and $0.70 for long-term gains if the reversal is confirmed.
If the ADA price fails to hold the 50 EMA support, the channelâs midline near $0.35 is a key support level. If the price pushes further downward, it will find lower support around $0.30 at the channelâs lower boundary.
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