Cardano (ADA) Sees Volatile Week

Cardano (ADA) has gone through an extremely volatile week. The price crashed by 25.85% in just seven days, with a further 8.52% decline in the last 24 hours.

Despite trading at $0.7428, some analysts are making bullish predictions for this major digital asset. This report provides a price prediction based on technical analysis.

ADA Price Plunge Explained: Trump Crypto Reserve News & Market Correction

Earlier this month, ADA surged to $1.13 after United States President Donald Trump announced a crypto reserve. The proposed reserve includes XRP, ADA, Bitcoin (BTC), Ether (ETH), and Solana (SOL). However, when Trump clarified that the reserve would not involve new purchases but simply hold existing government-owned crypto assets, market sentiment shifted dramatically. This shift triggered a sharp sell-off in ADA and other altcoins.

Price Prediction: Analyst Dan Gambardello Forecasts Potential $10 Target

Despite the short-term bearish trend, crypto analyst Dan Gambardello remains optimistic about ADA’s future.

He posted a technical chart indicating that Cardano’s “super trend” toward $10 remains intact. A closer look at the chart reveals a rounding bottom formation, a bullish reversal pattern often seen before significant upward moves.

The yellow dotted curve on Gambardello’s chart suggests an exponential growth trajectory. If ADA can maintain its current support levels and manage to break resistance around $1.50, a rally toward $10 remains realistic.

Price Analysis: RSI Suggests Neutral Conditions; Bollinger Bands Signal Potential Bounce

The daily Relative Strength Index (RSI) is currently around 46.86, suggesting neutral to slightly oversold market conditions. Given ADA’s recent dip, this RSI level indicates potential for upward price movement if buying pressure increases.

Crucial Support & Resistance Levels Identified for Potential ADA Rebound

The Bollinger Bands indicate high volatility, with the price near the lower Bollinger Band. This setup often signals a possible short-term price bounce if ADA attracts sufficient buying interest.

The 20-day Exponential Moving Average (EMA) at $0.80 serves as an immediate resistance level. A successful reclaim of this EMA could set the stage for a price recovery toward $1.00, with stronger resistance expected around $1.13—the previous local high from early March.

Disclaimer: The information presented in this article is for informational purposes only and does not constitute financial advice. Coin Edition is not responsible for any losses incurred due to the utilization of this content. Readers are advised to exercise caution before taking any action.