#ADA

ADA surpasses SOL, Cardano price trend forecast

Cardano price falls despite rising social popularity

Crypto content creator David revealed that based on social data, Cardano has surpassed Solana in YouTube searches.

The huge difference in search volume between Cardano and Solana reflects the different investor interest in information about the two assets.

Recently, former NSA intelligence contractor Edward Snowden criticized Solana for being too centralized on Token2049, and the video went viral on social media, which also caused Solana to receive some criticism.

Cardano's social popularity rises

This shows that Cardano is becoming more and more popular and attracting more attention. Increased popularity is usually associated with increased investor interest and market sentiment, which is expected to drive Cardano's price up.

Currently, the price of ADA is $0.3398, down 3.2% in the past 24 hours.

ADA Price Analysis: A Rally to $0.50 May Come

For nearly two months, the price of Cardano has been hovering between the $0.32 support and $0.40 resistance levels. Now, ADA is trading near the lower end of this range, at around $0.339.

ADA is likely to find support near $0.32. If it falls below this level, it could fall further to the next support level of $0.285.

The On Balance Volume (OBV) indicator shows a lack of strong buying pressure, which is consistent with the price range movement. There is no significant volume breakout, confirming that the price is in a sideways trend.

Moreover, the Relative Strength Index (RSI) is currently around 33.79, indicating that it is close to oversold conditions. This means that a rebound from the current $0.32 support level is likely.

The most likely scenario is that a rebound from the $0.32 support level will reach the mid-range or upper resistance level of $0.38-0.40.

However, if ADA fails to hold the $0.32 support level, a further correction to $0.285 may come.

Currently, ADA is in a consolidation phase between $0.32 and $0.40, and the price is moving sideways.

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