Cardano (ADA) may soon rebound as indicators suggest a bullish reversal after a retracement.
Market momentum and volume signals hint at rising buying interest for a potential ADA rebound.
ADA shows accumulation and bullish signals, supported by key indicators on Bybit and Binance.
Cardano (ADA) might be poised for a rebound after a recent price drop, according to crypto analyst Trend Rinder. In a post on his social media account, Rinder pointed to a pullback following ADA’s recent surge, suggesting an opportunity for a healthy bounce back.
So $ADA had a big pump, and now it came back down to liquidate longs.
We could see a healthier bounce from here as it could print a higher low.
I would like to see a bounce signal like the one we got from our indicators a couple weeks ago.
We traded the first bounce, no… pic.twitter.com/YmEc2AvbPy
— Trend Rider (@TrendRidersTR) August 28, 2024
Rinder believes the current price movement resembles a past scenario where ADA found support at lower levels before rallying. This suggests the market could soon signal a bullish reversal.
An analysis of ADA/USDT on Binance using Trend Rinder’s indicators shows a retracement af…
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