Cardano (ADA) Price Prediction: Where Will the Cryptocurrency Trade Next?

Cardana (ADA) is experiencing price pressure, trading at $0.5677 on Wednesday after declining from $0.5861, representing a 3.15% drop

Cardano (ADA) is experiencing some price pressure on Wednesday, trading at $0.5677 after a decline from $0.5861.

This represents a 3.15% drop in the last 24 hours, while the daily trading volume has decreased by 18.41% to $1.45 billion.

The cryptocurrency is showing some signs of life after hitting a recent low of $0.510, rebounding about 15% from this bottom.

However, traders remain cautious as ADA continues to trade below key technical indicators.

Key Resistance Level at $0.60Crucially, there is a strong resistance at the $0.60 mark, which has become a critical battleground between buyers and sellers in recent sessions.

Technical Analysis: Key Levels to Watch

On the upside, if Cardano can break above the $0.60 threshold and the 61.8% Fibonacci retracement level of the recent drop from $0.671 to $0.510, it could open the path to $0.63.

A further breakout above the 50% Fib at $0.629 and sustain gains above the 100-hour SMA could be a key factor in shifting the market sentiment more decisively in favor of bulls.

However, failure to breach the $0.60 mark might trigger renewed selling pressure. In that scenario, ADA could test immediate support at $0.568, with further potential drops to $0.555, $0.532, and possibly the psychologically important $0.50 level.

The BBTrend indicator has recently flipped into negative territory at -0.02 after reaching a positive peak of 5.28 just a day earlier. This sharp reversal highlights a potential shift in market sentiment.

For Cardano traders, this neutral-to-negative reading suggests upward momentum may be fading, increasing the risk of further downside if selling pressure builds in coming sessions.

Directional Momentum Shows Shifting ForcesThe Directional Movement Index (DMI) provides additional insights into the current price action.

The Average Directional Index (ADX), which measures trend strength, has dropped to 34.29 from 43.41. While this indicates the current trend is weakening, the ADX remains above the key 25 threshold, meaning the market is still in a strong directional move.

The positive directional index (+DI) has climbed from 4.68 to 19.19, showing growing bullish interest.

Meanwhile, the negative directional index (-DI) has sharply dropped from 44.92 to 22.18. This narrowing gap hints at a potential trend reversal or at least a slowing of bearish momentum.

However, since -DI is still slightly above +DI and ADX remains elevated, ADA technically remains in a downtrend, though bulls may be starting to regain some ground.

The next few trading sessions will be crucial in determining whether this nascent recovery has staying power or if another correction lies ahead.

If buyers can confirm their strength and sustain upward momentum, ADA could test resistance at $0.629. A successful breakout above that level could open the path toward $0.70, and potentially even $0.77—levels not seen since early 2024.

On the downside, if ADA fails to hold its current position and bearish momentum returns, the token risks sliding back below $0.52. A move toward $0.51 would represent the first critical test, and losing that level could push Cardano below the $0.50 threshold for the first time since November 2024.

The recent bounce in Cardano’s price from $0.510 to nearly $0.60 was fueled by short-term buying after an extended selloff.

Nevertheless, ADA still trades below the crucial 100-hour simple moving average and struggles to build consistent bullish momentum.

In the broader context, Cardano’s price movements are occurring against a backdrop of volatile market conditions. Macroeconomic factors continue to influence investor sentiment across the cryptocurrency space.