coinpedia
2025-04-02 03:24:32

Cardano (ADA) Price Prediction for April 2

The post Cardano (ADA) Price Prediction for April 2 appeared first on Coinpedia Fintech News It seems like ADA, Cardano’s native token, has successfully retested its crucial support and is repeating its previous move. However, due to market uncertainty, the asset is facing difficulties and struggling to gain momentum. Current Price Momentum At press time, ADA is trading near $0.67 and has experienced a modest price surge of over 0.50%, which was previously 4.5%. However, due to uncertainty, the token lost its gains. Meanwhile, during the same period, the asset’s trading volume dropped by 20%, indicating lower participation from traders and investors compared to the previous day. Cardano (ADA) Technical Analysis and Price Prediction According to expert technical analysis, ADA recently visited a key support level of $0.63, which has a history of strong price reversals or rebounds. ADA has always seen strong buying pressure at this level, leading to an upside rally. This time, the asset has formed a Doji candle at the support level on the daily timeframe, hinting at potential upside momentum. Based on recent price action, if ADA remains above the $0.63 level, there is a strong possibility it could soar by 25% to reach $0.85. However, since the current market isn’t bullish, it would be difficult to see such an upward move. Instead, we may see price consolidation between the $0.63 and $0.70 levels over the next few days. Source: Trading View In addition to this, ADA’s 200-day Exponential Moving Average (EMA) is above its current price, indicating that the asset is in a bearish trend and has weak price action. Key Liquidation Levels This bearish trend explains why traders are strongly betting on short positions, as reported by the on-chain analytics firm Coinglass . Source: Coinglass Data revealed that $0.662 and $0.70 are the levels where intraday traders are highly over-leveraged, having built $5.50 million and $13.60 million worth of long and short positions, respectively, in the past 24 hours. This data indicates how bears are currently dominating the asset and pushing its price lower.

获取加密通讯
阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约