Cardano Traders on Edge as Technical Signals Clash
Cardano is trading below $1 a month, working to restore momentum at the end of 2024. Although the ADA shows signs of recovery, technical indicators are still different. BBTREND has become very positive again, but is still far from the previous highs.
Ichimoku Cloud proposes an indecisive phase where ADA tries to stabilize but lacks strong bullish confirmation. With the key resistance of $0.83 and the support is $0.65, its next move is crucial to determine whether it can break through its range or face the $0.50 range.
After briefly hitting negative levels, Ada Bbtrend returned to positive
Cardano’s Bbtrend is currently 1.12, down from a brief decline to negative territory yesterday. Between February 13 and February 18, BBTREND remained positive, reaching a peak of 12.3 on February 14, indicating that Bullish was strong during that period.
However, the recent decline and subsequent rebound suggest that ADA has been increasing volatilityprice action fluctuates between bullish and bearish stages.
Although BBTREND is now back in the positive territory, it is still far below its recent peak, indicating that Ada’s momentum has weakened but has not completely shifted to a downtrend.
bbtrend, or Bollinger’s Band Trendsis an indicator that helps measure trend strength based on the trend strength of the Bollinger band. It fluctuates between positive and negative values, with positive readings indicating an uptrend and negative readings indicating a bearish.
Ada’s BBTrend is 1.12, indicating that the asset sticks to a weak bullish structure but lacks strong upward momentum. If Bbtrend continues to rise, it can confirm Updated purchase pressuresupports a continuous upward trend.
However, if it becomes negative again, it will indicate that the ADA is working to maintain upward momentum, increasing the risk of further mergers or even new downtrends.
Ichimoku Cloud shows Cardano’s mix
Ichimoku Cloud Chart Cardano currently displays hybrid settings. Prices are trading within the Green Cloud, indicating hesitation.
The green cloud (Kumo) shows that Ada tries to stabilize, but the market lacks strong momentum in either direction as the orange senkou span B remains flat.
The purple Tenkan-Sen (conversion line) is located below the orange Kijun-Sen (baseline line), indicating that the short-term momentum is still weak. The ability of ADA to stay in the cloud shows that it is neither a confirmed uptrend nor a downtrend, which is crucial to defining its direction.
The green Chico span (lag line) is slightly higher than past price action, suggesting a potential shift toward bullish momentum, but it still needs to be confirmed.
if Price of ADA Trying to break off on the clouds and build yourself above the orange Kijun-sen, which may indicate a trend reversal and enter bullish territory.
However, if the price fails to stay under the cloud and fall below its range, bearish pressure may take over again, leading to further disadvantages. The current Ichimoku setting indicates that ADA is at a critical inflection point, and its next step may determine a broader trend in the coming days.
Cardano can test $0.83 soon
Cardano is currently trading Within the defined range, the resistance is $0.83 and the support is $0.65.
The short-term moving averages are closely clustered but remain under the long term, which suggests that despite some consolidation, the overall trend still lacks upward momentum. if ADA manages to ignite a sustained upward trendit can push upwards to test the resistance level of $0.83.
A successful breakthrough beyond this barrier could pave the way for further gains, possibly reaching $0.9 before climbing to $0.98, marking its highest level since the end of January.
On the contrary, if the current momentum fails to achieve a strong upward trend and the bearish force strengthens, the ADA may lose $0.65 support.
Faults at this critical level may be exposed ADA further declinesthe price may drop to around $0.5, which is 34% corrected at the current level.
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.
