Had Rise Drastically And Suddenly Drop, Cardano Price (ADA) Is Currently At A Critical Point

Cardano (ADA) prices are currently at a critical point (Photo; Doc. Bitcoin Systemi)

JAKARTA - The price movement Cardano (ADA) has recently attracted the attention of many parties, with significant fluctuations testing investor resilience. After a 27% price spike followed by a 20% drop, as well as a 10% return increase, ADA has now slumped 7% again and is trading around the level of 0.34 US Dollars (Rp5,220). This level of support is becoming very important for bullish investors who hope that prices will stay afloat and avoid deeper declines.

According to data from Coinclass, Cardano may enter a consolidation phase, where prices tend to be stable before significant movement occurs. Traders and investors are closely monitoring this level as it will determine whether ADA is ready to rally or face further corrections. With market sentiment still diverse, the upcoming price action will most likely determine the direction of the ADA trend in the next few weeks.

On-chain data showed a large increase in transactions on the Cardano network, but then stabilized. This indicates that the market is starting to cool down after an intense period of volatility. This stability could be the beginning of a more balanced price action, while ADA remains above the key support level of 0.34 US Dollars (Rp 5,220).

Data from Coininglass also strengthens the consolidation narrative. The weighted funding rate (funding rate) based on open interest (OI) for ADA shows a decline but remains positive. This indicates that although demand is starting to slow down, there is no sign of significant selling pressure. In the crypto context, when funding levels drop but still positive, the market tends to be in a consolidated phase rather than preparing for a sharp decline.

If ADA manages to stay above the level of 0.34 US Dollars (Rp5,220) during this consolidation phase, this could be a sign that price action remains healthy. The biggest challenge is whether bullish investors can maintain this level and push prices towards a more sustainable rally in the next few weeks.

Currently, ADA is trading around 0.34 US Dollars (Rp5,220) after failing to break into two important levels: an average movement (MA) of 200 periods 4 hours at 0.356 US Dollars (Rp5,464) and an exponential moving average (EMA) of 200 at 0.359 US Dollars (Rp5,509). Both indicators are important to recover bullish momentum, and the rejection of this level suggests potential weakness in price action.

If the US$0.34 (Rp5,220) level of support does not last, ADA could experience further decline with a demand level of 0.32 US Dollars (Rp4,912) and even 0.30 US Dollars (Rp4,605) being the next target. However, if ADA is able to penetrate back above the MA and EMA 200 periods, especially above 0.36 US Dollars (Rp5,522), this could pave the way for the rally towards its next resistance level around 0.41 US Dollars (Rp6,283).