Cardano (ADA) is currently trading near an important support level of $0.3172. This support level has played a role in rebounding in the past and is therefore of great interest. If the price falls below this level, it may further decline to $0.2774.
Recently, ADA's trading volume has surged by 29.46%, indicating increased market activity, while large transactions have also risen by 8.56%, indicating that whale investors are prepared for market movements. In addition, the number of active addresses has grown by 109.41%, indicating widespread attention and potential speculative interest.
From a technical perspective, ADA is currently in the oversold zone, and the Stochastic Relative Strength Index (RSI) shows a possible bullish signal.
If the bulls can step in at the current support level and drive the price higher, a rebound may occur.
However, if the current support level cannot be broken, the upside will be limited and the overall market trend remains bearish.
Public account: Pumpkin Strategy (early review strategy analysis of Bitcoin BTC and Ethereum ETH from Monday to Saturday, long-term recommendation of high-quality coins and live analysis, and occasional sharing by Fu Mima)
