ADA Price Struggles as Bearish Indicators Persist
Cardano (ADA)’s price has dropped by more than 25% in the past 30 days as it struggles to regain its $25 billion market cap threshold and is therefore still in the merger phase. Despite signs of stability, indicators still reflect lingering bearish pressure.
The Ichimoku Cloud setup also shows that ADA is working to build momentum, with price trading approaching key levels but failing to break with certainty. However, if the bullish momentum returns, the ADA may test resistance at $0.82, and a breakout could result in a recovery to $1.16, which is 67% upside.
Cardano Bbtrend is recovering from the recent lows, but still very negative
Cardano Bbtrend indicator Currently at -9.4, showing its nearest low of -28 just five days ago. Despite this rebound, the indicator is still in a negative state and is now negative for six consecutive days.
This shows this Bearish pressure is easingADA has not yet established a significant shift in momentum. There is no stronger bullish signal, and recovery may stall, keeping price action under pressure.
Bbtrend or Bollinger band Trend, use Bollinger bands to measure the intensity and direction of the trend. Zero below zero indicates bearish conditions, while positive values indicate bullish momentum.
Although Ada Bbtrend is still at -9.4, the market is still on a downward trend despite recent improvements. If the indicator continues to rise, it may indicate a trend reversal, but as long as it remains negative, ADA price It may be difficult to establish a sustained upward momentum.
Ichimoku Cloud shows ADA is working hard to build momentum
Cardano Ichimoku cloud settings reflect Market efforts gain momentumprice trading is near the baseline (red line) and conversion line (blue line).
The lagging span (green line) remains below the price, strengthening Aida No strong bullish signs have been shown yet. Prices remained below the cloud, with continued weaknesses in the signal, with no significant breakthroughs above the key levels.
The future cloud (kumo) remains thin and bearish, with the leading span A (green cloud boundary) below the leading span B (red cloud boundary).
The fine cloud indicates that the trend is weak, which means ADA price You can continue in a fluctuating and indecisive way. Upside potential remains limited until the price can surpass the clouds and remain stable, and bearish momentum may continue.
ADA Price Forecast: Will Cardano resume strong upward trend in December 2024?
The Cardano (ADA) EMA line continues to indicate a downward trend, with the short-term moving average below the long-term. This bearish setting indicates that unless momentum changes, Cardano Price It can be reduced to $0.50.
The ongoing weakness of EMA alignment suggests that the seller still has control and inability to stabilize can accelerate losses.
However, BBTREND believes that the downward trend may be relaxing, which opens up the possibility of a trend reversal. If ADA can recover bullish momentum, it could push towards a resistance level of $0.82, breaking through paves the way to move to relocate to $0.98.
if ADA can restore good motivation Starting in December 2024, it can recoup the level of about $1.16, which is potentially 67% upside.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
