Cardano ADA Falls 1.38%, Long-Term ETF Optimism Grows
Cardano (ADA) has decreased by 1.38%, trading at $0.816, below its 20-day and 50-day moving averages but above the 200-day average of $0.735. This indicates short-term selling pressure but a supported longer-term trend.
- Daily charts show oversold signals with RSI at 36.6, negative CCI, and near-zero Stochastic RSI levels.
- Potential price consolidation between $0.768 and $0.790 is expected in the short term.
- Momentum indicators remain neutral, indicating limited rebound potential without increased buying volume.
Cardano ETF Optimism and Roadmap Insights
- Longer-term outlook is positive due to a 9% chance of Cardano-based ETF approval.
- The Cardano Foundation's roadmap focuses on DeFi, governance, and ecosystem growth.
- Increased whale transactions and adoption by firms like Reliance Global signal growing institutional interest.
Breaking above $0.868 could confirm a rebound, though current conditions suggest sideways or slight downside movement.
Short-Term Consolidation, Long-Term Potential
- Market expert Anton Kharitonov notes technical vulnerability unless Cardano reclaims $0.868.
- The immediate price range is narrow, with low breakout probability in the next five days.
- Long-term forecasts predict a climb to $1.20–$1.38 within 6–12 months, driven by ETF optimism and institutional demand.
The short-term sees consolidation, but oversold conditions may attract investors seeking a rebound. The timing of Cardano's next major catalyst remains the key question for investors.