ADA Price Forecast: Look for opportunities for rebound
Currently, the price of Cardano (ADA) is around $0.89, having witnessed a significant 7% drop in the last 24 hours, and is currently hovering above the key support level of $0.87.
The ability to sustain above this support level will be critical to price action in the short term and determine whether bullish sentiment remains.
If the market rebounds, ADA may break through the $1.00 mark it previously fell from.
Once this resistance turns into support, Cardano could see a resurgence, pushing the price further towards $1.23 and attracting more investor attention.
However, ADA may face downward pressure if the price fails to hold the $0.87 support.
A break below this support could push the price further towards $0.77, thus weakening the bullish sentiment and the market could shift to a bearish pattern.
