Cardano ADA: Price Volatility Continues, Traders Eye Long Positions Despite Bearish Signals

As the cryptocurrency market continues to experience volatility, Cardano ($ADA) is no exception. Recent price movements and technical indicators provide a mixed picture for the future of ADA. Despite this, traders are showing a willingness to increase their long positions, hinting at potential optimism despite the current bearish signals.

Cardano ($ADA) Price Prediction: Can ADA Hold $0.67 as RSI Hits Oversold Territory?

ADA trades NEAR $0.67 amid volatility, holding support above $0.60 despite weak momentum. Technical indicators remain bearish, with RSI oversold and MACD showing no bullish crossover. Derivatives data shows bullish positioning rising, even as overall trading volume continues to fall. Traders are increasing long positions despite mixed price action and weakening technical indicators.

Cardano’s Leios Upgrade Aimed at Solana-Style Speed with Full Decentralization

Cardano founder Charles Hoskinson revealed details about the Leios upgrade, positioning it as a game-changer designed to deliver Solana-style speed without sacrificing decentralization. Leios aims to combine high throughput with operational uptime, addressing Solana’s issues of periodic network failures and validator centralization.

Cardano Price Declines Today

Cardano (ADA) price drops to $0.6539, marking a 3.72% decline in the last 24 hours. The daily trade volume also decreased by 16.27% to $526,221,837. This decline in both price and volume suggests a possible trend reversal, possibly due to loss of interest from market participants amidst recent developments and macroeconomic factors. Cardano has declined 9.88% in the last 7 days, with a total market capitalization of $23,063,354,380.

Cardano’s Path to $2.50: Analyzing Signs of Rally

Cardano is tracking its Q3 2024 breakout pattern and holding above its Feb 3 low signals strength. If the fractal holds, a $2.5 breakout in May is plausible. Unlike other high-cap altcoins, Cardano [ADA] remains 96% above its pre-election levels. The $0.59–$0.70 support zone has been tested three times in the past sixty days, confirming strong buy-side absorption. This price structure closely mirrors Cardano’s Q3 2024 breakout cycle. However, in the current market environment, ADA is likely to retest the sub-$0.60 support. The RSI was trending downward without reaching oversold levels, suggesting fading bullish momentum.