Cardano

Major

bullish

Coin

<p>Despite increased price action in the crypto market, the Cardano price has displayed a neutral price action for a brief period. Furthermore, the 11th largest crypto token is hovering close to its crucial support, indicating uncertainty in future price movements.</p>  
<p>Is the ADA crypto holding its value above the $0.330 a bullish sign? Or is this crypto on the cusp of experiencing a major price correction during the upcoming time? In this article, we have covered the short-term price prospects of the Cardano (ADA) token.</p>  
<h2 class="wp-block-heading" id="h-ada-crypto-records-consolidated-price-action"><strong>ADA Crypto Records Consolidated Price Action!</strong></h2>  
<p>Amid increased price volatility. The Cardano token has dropped ~2% in the past 24 hours with a trading volume of $288.65 million. Moreover, it has recorded a neutral price action over the past month by recording a variation of &gt;1% in valuation.</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/23181239/image-104-200-1024x541.png" alt="ADA price analysis 23rd Oct 2024" class="wp-image-371031">
</figure>  
<p>Moreover, this altcoin has been trading close to its crucial support of around $0.330 since August. By facing repeated rejection at its resistance level of $0.4075, the market sentiments indicate a strong sell-off point at that level.</p>  
<h2 class="wp-block-heading" id="h-cardano-technical-sentiments"><strong>Cardano Technical Sentiments</strong></h2>  
<p>The EMA 50-day is on the verge of experiencing a bearish convergence in the 1D time frame. This highlights a weak buying pressure for the altcoin in the crypto market.</p>  
<p>Further, the Relative Strength Index (RSI) has recorded a sharp drop toward its neutral point. With a high possibility of a negative crossover in its average trendline, the ADA price may continue losing momentum this week.</p>  
<h2 class="wp-block-heading" id="h-will-ada-coin-price-retest-0-50-this-q4"><strong>Will ADA Coin Price Retest $0.50 This Q4?</strong></h2>  
<p>If the bulls resurface, the Cardano token will prepare to retest its resistance level of $0.4075. Maintaining the price at that level will set the stage for it to head toward its upper resistance level of $0.50 during the upcoming weeks.</p>  
<p>Conversely, if the bearish sentiment intensifies, this altcoin could retest its crucial support trendline of $0.330. Furthermore, if the market uncertainty intensifies, this could result in it plunging toward a new yearly low this Q4.</p>  
<p>To understand the practicality and technalicity of this altcoin reclaiming the $1 mark, Read our <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA) Price Prediction</a> 2024 - 2030!</p>

Will Cardano (ADA) Price Hold Its Support Or Record A Major Crash?

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