Cardano is gradually approaching the main support area near $ 0.62, and some technical indicators have been adjusted for potential bounce. However, if the volume of trading is insufficient, the bull is waiting for a more powerful confirmation.
Cardano’s (ADA) has slowed down several times. Traders are now closely monitoring the $ 0.62 area, which is an important level of joining by integrating Fibonacci support, historical horizontal support and value overlap.
Main technology points
- Critical Support Zone: The $ 0.62 area includes 0.618 Fibonacci Repression, Daily Horizontal Support and value area overlapping, forming a powerful technology base.
- ADXTOLD RSI Signal Building: The relative robbery index is getting closer to the hyperpletation area, and if the price continues to fall, it suggests that potential reversal may be close.
- Still volume: dry: Despite the approach to support, the volume of transactions does not increase significantly, so that the trust in immediate bounce is limited.
Detailed analysis
Price measures have recently been bankrupt under the control point, and now tend to toward the value area. This low area provided temporary support, but the overall market structure weakened and the exercise continued to be lowered. The $ 0.62 support is now backed up as a convergence with the Golden Pocket.
If the price reaches this level while the RSI enters the overreagy conditions, you can see the potentially advantageous settings for the technical bounce. However, confirmation through the increase in volume is essential for all bounces to be traction. Until now, due to the small amount, there was little evidence of the strong buyer’s interest, so the modification seemed to be slow and convincing.
Past recovery also lacks significant optimistic followers, increasing shares on how ADA responds at this level of support. The rising volume can return to the top range of $ 0.62. On the contrary, clean rest below this level can cause more disadvantages.
What you can expect from the upcoming price measures
Cardano approaches an important decision point. If the $ 0.62 confirmed bounce and volume increases significantly by the ADCASSOLD RSI, it will support short -term recovery. If this level fails, the door opens an extended reduction, especially if the amount of weakness increases.