Cardano attracts some attention this week because it hangs over a very important price level. According to a weekly scheme and a new update by the market analyst, the Ada price is sitting directly within “Band Band”, a support area that has been held so far. Although the price procedure has been cooled slightly, there are early signs that the bounce may be formed across the multiple time frames.
Trend Rider summoned a possible strategy #2 in play. The reference to the weekly chart was shown and has already confirmed in The Daily. As long as the ADA price remains above $ 0.55, which is represented by the analyst as a line where the upscale trend collapses, the preparation remains valid. The tweet also stated that the oscillator seems stable now, and that the flow of money, which was declining, began to settle.
Cardano price testing weekly support levels
On the weekly graph, the ADA price is integrated in a wide range after a strong upward movement earlier this year. The Rideer provides a short -term brown band, as the candles are tested over and over the medium support area between $ 0.58 and $ 0.60. This region has worked historically as a basis for biological movements.
The chart also shows resistance in a range of $ 0.90 – $ 1.00, as previous gatherings lost momentum. If current support fails, analysts emerge 0.55 dollars as the next threshold. The collapse below that area can open the door for references to $ 0.47.
Moreover, indicators of size show that money flows to ADA were rising during the second quarter of 2024 and in January. However, this momentum slowed in the following months, in line with the low weekly candles. Recently, the oscillator has stabilized the flow of money, indicating that the external flow may weaken.
While this transformation does not guarantee upward momentum, analysts consider it a preliminary signal for the potential price recovery. The apostasy scenario still depends on the price that carries the current support area and the wider market behavior, especially the movements on the Nasdaq Stock Exchange.
Trading signals and strategy context
Trend Rider 2 appears to focus on determining the reactionary signals. According to Twitter, this preparation was already confirmed on the daily time frame. The strategy includes entry near support when indicators indicate a reflection or stopping pressure.
For traders, the current level provides a possible input if the signal remains intact. For long -term holders, the proposed accumulation area is between $ 0.58 and $ 0.60, with a warning or reassessing if the price is less than $ 0.55.
Also read: The billions were moved in XRP and closed on Ripple – beyond this?
Analytical caution and the impact of the broader Ada market
While the analysis indicates a possible bounce, expectations remain cautious. A tweet to monitor macro factors, especially the performance of NASDAQ, which may affect the behavior of encryption prices. The current level is a major technical turn, as it can follow a recovery or another aspect based on short -term assurances.
Ada prices are also traded within this narrow range, The following few sessions may determine whether the original continues to standardize or re -enter direction.
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