Cardano (ADA) price has increased by 41.89% in the past seven days, indicating strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators such as ADX and Ichimoku Cloud, which indicate continued positive sentiment.
However, signs of consolidation and narrowing gaps in short-term indicators suggest that the rally could face challenges if buying pressures weaken.
The current uptrend of ADA is still strong.
Cardano The DMI chart shows an ADX value of 42.7, indicating a strong trend. The indicator has remained above 40 since November 7. This high ADX value confirms the strength of ADA’s ongoing uptrend, indicating strong momentum behind the recent price action.
With the positive (D+) indicator at 21.3 and the negative (D-) indicator at 11, the upward pressure continues to outweigh the bearish activity, further supporting the upward path.
ADX measures the strength of a trend without regard to its direction. Values above 25 indicate a strong trend, while values below 20 indicate a weak or non-existent trend. With an ADX of 42.7, ADA is in a strong uptrend, showing great confidence in the market.
The gap between D+ and D- reinforces the bullish dominance, suggesting that ADA price could maintain its upward movement if the current conditions persist.
Cardano's Ichimoku Cloud Shows Important Signal
Cardano’s Ichimoku Cloud chart is indicating a general uptrend, with the price remaining above the cloud (Kumo). Both the Tenkan-sen (blue line) and Kijun-sen (red line) appear relatively flat, showing signs of consolidation after ADA’s recent rally.
While the price is still trading above these lines, the narrowing gap between the price and the Tenkan-sen indicates weak short-term momentum.
The green cloud ahead indicates potential support for an uptrend for ADA, but the current consolidation phase highlights the need for sustained buying pressure to maintain this momentum.
If the price falls below the Kijun-sen or approaches the cloud, it may indicate a potential shift towards bearish sentiment.
ADA Price Prediction: Can It Reach $1 in November?
If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the $1 threshold potentially being reached, which would represent a 20% upside from current levels and the highest price for Cardano since April 2022.
However, as the Ichimoku cloud suggests, there could be a potential reversal on the horizon. If the bearish momentum takes over, ADA price could face significant downward pressure, potentially leading to a drop to $0.51.
If this support fails, the price could drop further to $0.32, which would represent a sharp 59% correction. This highlights the importance of current support and resistance levels in determining the next direction for ADA.