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12 hour ago
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Cardano price struggles in oversold territory; buyers await momentum shift

Cardano's [ADA](https://holder.io/coins/) is currently in an oversold state, which may look appealing to investors. However, the absence of momentum and a weak structure suggest that buying at this stage could mean a long wait for price movement.

Current Market Analysis

  • Trend Rider points out that ADA is in a "dark red zone" on its daily chart, indicating pressure rather than opportunity.
  • The focus should be on waiting for confirmation of strength returning, not just low prices.
  • A decisive breakout and daily close above $0.45 are needed to shift control from bears to bulls.

Cardano

Key Demand Zone: $0.33–$0.36

  • Marcus Corvinus highlights a key demand zone between $0.33 and $0.36, where buyers have shown interest previously.
  • If bullish momentum builds, ADA could potentially reach the next resistance level around $0.53.

Cardano

The current market condition suggests careful timing over attempting to catch a "perfect bottom."