Cardano Indicator Flashes Buy Signal On 4-Hour Chart – Rebound Ahead?
Cardano (ADA) is maintaining stability above the $0.70 support level despite broader market turbulence. The cryptocurrency has shown resilience amid macroeconomic uncertainty and trade war fears, positioning itself for a potential breakout. Analyst Ali Martinez noted a buy signal on the TD Sequential indicator on ADA's 4-hour chart, historically linked to short- to mid-term price rebounds during consolidation phases. For ADA to confirm a bullish reversal, it must reclaim resistance above $0.85. Currently trading at $0.71, ADA struggles to surpass the 200-day EMA near $0.73. A failure to hold above $0.70 could lead to a decline toward $0.60, marking a significant technical breakdown. The upcoming days are crucial for determining Cardano's short-term direction and potential recovery.
