$ADA Medium Term Analysis:
Looking at the current performance of Cardano (ADA) and its technical analysis, the medium-term trend is showing mixed signals with relative optimism. Here are the details:
Overall Trend Analysis
The moving averages (SMA) are indicating bullish momentum in the medium term, as the price is trading above the long-term averages, which enhances the possibility of a continued price recovery if the support at $1.00 levels holds
The MACD indicator confirms positive momentum, with a bullish signal on the weekly timeframes, which reflects the possibility of a gradual improvement in the coming months
Price Performance
In recent weeks, the price of $ADA has risen significantly by 91.84% monthly, but it has suffered a correction to around $1.05 currently. These levels are crucial to testing support and continuing the recovery
Despite technical improvements, such as the expansion of decentralized applications and smart contracts on its platform (through development phases such as Goguen and Voltaire), Cardano continues to face volatility due to liquidity and general crypto market pressure
Future Outlook:
If $ADA continues to hold support levels above $1.00 and breaks resistance at $1.30, we could see a rally to higher ranges during the first half of 2025, depending on broader market conditions and the performance of major cryptocurrencies such as Bitcoin