$ADA price prediction shows short-term support near $0.39 - AMB Crypto Analytics

Cardano (ADA) saw a 20% gain between September 23rd and 27th, nearly retesting the $0.418 resistance. Despite bullish indicators, a drop in Bitcoin's price from $66k negatively affected ADA.

The long-term outlook for Cardano remains bullish, but failing to reclaim the $0.418 Fibonacci retracement level is concerning. ADA has been trading in a range between $0.312 and $0.393. Last week's rally pushed ADA above the range, but it hasn't surpassed the key $0.418 level.

In the past three days, ADA dropped 7%, but the CMF remains positive, indicating strong capital flow. The RSI signals continued bullish momentum, suggesting $0.387 could serve as short-term support. While ADA may target $0.408, bearish momentum in Bitcoin could pull prices down, so caution is advised.