Cardano Price Is Facing Strong Resistance as It Struggles to Maintain Momentum

input:output: title: Simpsons Predict Cardano (ADA) Price Could Reach $36

Cryptocurrency analyst Dan Gambardello has set a critical price point for Cardano at $0.30, highlighting the importance of holding above the 200-week moving average to avoid a drop to this level.

According to recent Cardano price trends, the top altcoin remains in a critical position as it struggles to maintain momentum above the $0.70 mark. According to Dan Gambardello, if ADA fails to hold above this level, the price could drop to $0.50 and potentially extend losses toward $0.30.

This scenario aligns with past market trends, where similar breakdowns in technical ranges resulted in sharp declines. For instance, if the 200-week moving average is lost, selling pressure may increase, pushing the price lower.

However, a sustained hold above the 200-week MA and a break past $0.78-$0.80 could trigger bullish momentum, possibly pushing ADA toward $1.25. This level, according to Dan, represents the “upper end of the bull market doors,” a critical threshold for Cardano price to cross.

According to Ben Armstrong, host of the crypto YouTube channel "Baston Capital," the Cardano community is eagerly awaiting the price to reach this height.

Moreover, external economic factors could impact ADA price. For instance, if the Federal Reserve's actions disappoint the market, volatility could drive crypto prices lower, with ADA potentially dropping to $0.50.

According to on-chain data, major investors have increased their holdings in Cardano despite recent volatility. Wallets holding between 1 million and 10 million ADA have accumulated 180 million tokens in the past week.

This trend suggests strong confidence among major investors in Cardano, even as the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Canary Capital ADA ETF.

The SEC's delay adds to market uncertainty, as ETF approvals often influence investor sentiment. The regulator has also delayed other crypto ETF applications, including those for Solana, XRP, Dogecoin, and Litecoin.

Additionally, The Simpsons shared a more intriguing prediction by suggesting the top altcoin could reach $36, sparking discussion among investors.