Cardano\u2019s native token remains well in the red on a weekly scale, reflecting the predominantly bearish mood dominating the crypto market.<\/p>\n
Nonetheless, one important metric (which has previously been quite accurate) suggests that the price might be gearing up for a resurgence.<\/p>\n
As of press time, ADA trades just south of $0.25, down 10% from nearly $0.28 seven days ago. According to popular analyst Ali Martinez, the asset could be primed for a rebound, as the TD Sequential indicator has flashed a buy signal today.<\/p>\n
He noted<\/a> that this metric has been remarkably precise at predicting shifts in ADA\u2019s short-term momentum. On May 10, for example, it flashed a sell signal, followed by a 15% correction over the last ten days.<\/p>\n \u201cNow that this cooling-off phase has fully run its course, the same indicator is flashing a buy signal today. This implies that a local bottom is forming,\u201d he argued.<\/p>\n Martinez set the first rebound target at $0.255 if buying pressure builds at ongoing levels. Clearing that level could open the door to test $0.262.\u00a0At the same time, he warned that this bullish setup would be invalidated if ADA fails to hold the support zone at approximately $0.246.<\/p>\n Earlier this month, the analyst paid special attention to $0.25, reminding<\/a> that it has served as a major turning point in previous years. In January 2023, ADA bounced off this level and climbed 88% in the weeks that followed. In September that year, the same zone once again acted as a solid support, igniting a massive 243% surge.<\/p>\n For their part, Sssebi claimed<\/a> that the asset priced at $0.25 is \u201cextremely undervalued,\u201d highlighting the ongoing advancement of Cardano\u2019s ecosystem.<\/p>\n It is important to note that Sessebi has been quite inconsistent in their ADA predictions. Earlier this week, the analyst envisioned<\/a> an additional price drop for the coin if Bitcoin (BTC) does the same.<\/p>\n \u201cConsidering that ADA\u00a0<\/span>got rejected exactly at the upper trendline of the descending channel, we can assume that it will also retest the bottom of the channel around $0.22,\u201d they stated.<\/p>\n Erick Crypto was also somewhat pessimistic, opining<\/a> that the asset remains within a bearish structure, with sellers in charge. At the same time, he claimed that this zone around $0.25 could become a strong support area if buyers step in with volume confirmation.<\/p>\n The post Cardano (ADA) Slips 10% Weekly, But Key Indicator Flashes Buy Signal: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cardano\u2019s native token remains well in the red on a weekly scale, reflecting the predominantly bearish mood dominating the crypto market. Nonetheless, one important metric (which has previously been quite accurate) suggests that the price might be gearing up for a resurgence. Formation of a Local Bottom? As of press time, ADA trades just south […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-168790","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/168790"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=168790"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/168790\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=168790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=168790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=168790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Further Losses on the Way?<\/h2>\n