Fun

Cardano Surge To $1.17 Triggers Overbought Warnings: Time To Sell?

News Feed - 2025-03-04 02:03:23

Este artículo también está disponible en español.


Cardano recent price surge has been nothing short of impressive, with ADA climbing steadily to challenge the $1.17 resistance level, a key psychological and technical barrier.  Overbought conditions often precede a period of consolidation or correction, as traders take profits and the market seeks equilibrium.


For ADA, this could mean a temporary slowdown or pullback from the $1.17 resistance, especially if buyers fail to muster enough strength to break through this stubborn level. On the other hand, a successful breach could open the door for further gains, potentially propelling ADA toward higher price targets. Cardano’s Rally Hits A Wall At $1.17


After an impressive rally that stalled at the $1.17 resistance level, ADA is beginning to show signs of weakness, with selling pressure gradually increasing. The failure to break past this key resistance has led to a shift in momentum, causing the price to decline toward the $0.9077 support zone . This pullback suggests that bulls may be losing strength and bears are beginning to take control. Related Reading Cardano Price Prediction: Analyst Says $0.8 Might Not Come Again If This Wedge Breaks Out 6 days ago


Technical indicators further reinforce the possibility of a continued downturn as momentum begins to shift in favor of the bears. The Relative Strength Index (RSI), which previously hovered in overbought territory due to strong buying pressure, is trending downward. This decline suggests that bullish momentum is weakening, and traders may be taking profits, leading to an increase in selling pressure. ADA’s recent upswing losing steam | Source: ADAUSDT on Tradingview.com


Additionally, a break below the mid-level (50) on the RSI would validate the bearishoutlook, increasing the likelihood of a deeper correction. If the RSI continues to slide toward the oversold region and ADA fails to hold above the critical $0.9077, it could accelerate ADA’s decline toward lower support levels


A breakdownbelow this level would signal rising bearish pressure, potentially pushing the price toward $0.8119, a key area where buyers previously stepped in to halt declines. If this support fails to provide a strong rebound, ADA might extend losses, testing the $0.80 level and serving as another crucial barrier for the bulls. Bullish Scenarios For ADA


Cardano has the potential for a bullish turnaround as key support levels hold and buying pressure increases. The $0.9077 level is crucial for a rebound, and a strong bounce from this area could trigger renewed momentum, allowing ADA to challenge resistance levels and regain upside directions. Related Reading Cardano Remains In Consolidation – Expert Projects 25% Price Move 1 week ago


Furthermore, the $1.17 level serves as a key pivot for ADA’s bullish scenario. A breakoutabove this mark, backed by strong volume, may signal growing buyer confidence. If successful, ADA may gain momentum and target $1.58 and beyond.


However, for these bullish scenarios to play out, Cardano must hold above key support levels, especially $0.9077. Failure to maintain control by buyers puts ADA at the risk of further declines. For now, traders are watching for signs of stabilization and bullish confirmations before expecting a strong upward move. ADA trading at $0.91 on the 1D chart | Source: ADAUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com

News Feed

Solana’s SOL/BTC pair flashes bullish — Are new highs in store?
Rakesh Upadhyay7 hours agoSolana’s SOL/BTC pair flashes bullish — Are new highs in store?Solana’s coiling price against Bitcoin suggests it could be ready for a breakout soon.1008 Total views1 Total sharesListen to
Pre-launch token trading 20 times more volatile than post-launch trading — Keyrock
Zoltan Vardai10 hours agoPre-launch token trading 20 times more volatile than post-launch trading — KeyrockPre-launch volatility underscores the critical role of liquidity in stabilizing markets, according to the repor
XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85
Este artículo también está disponible en español. Crypto analyst Dark Defenderhas revealed a target to watch out for as the XRP price targets a new all-time high (ATH). T
Digital Token Issued In Russia to Facilitate Investments in Palladium
Digital Token Issued In Russia to Facilitate Investments in Palladium Transactions with digital assets backed by precious metals are beginning in Russia with the launch of a token
CME’s Bitcoin Friday Futures launch with 31K contracts on day one
Ana Paula Pereira5 hours agoCME’s Bitcoin Friday Futures launch with 31K contracts on day oneCME’s new derivatives product allows market participants to hedge or speculate on Bitcoin price movements in the short term
Cash2Bitcoin: As Bitcoin Greatly Outperforms S&P 500, Bitcoin ATMs Gain in Popularity
Cash2Bitcoin: As Bitcoin Greatly Outperforms S&P 500, Bitcoin ATMs Gain in Popularity sponsored Since the beginning of the COVID-19 pandemic and after an initial dip, the stock mark
Between days in court, Donald Trump will meet crypto enthusiasts for NFT dinner
Turner Wright6 hours agoBetween days in court, Donald Trump will meet crypto enthusiasts for NFT dinnerAnyone who spent at least $4,653 on Trump’s “Mugshot” NFTs will be able to have dinner with the former presiden
Deloitte: 82% of Indians Surveyed Plan to Invest in Crypto Once Government Provides Regulatory Clarity
Deloitte: 82% of Indians Surveyed Plan to Invest in Crypto Once Government Provides Regulatory Clarity A recent survey by Deloitte shows that 82% of Indians plan to invest in crypt
Mystery Surrounds DDoS Attacks That Have Downed the Darknet
Mystery Surrounds DDoS Attacks That Have Downed the Darknet If you’ve been struggling to access your favorite darknet market lately, you’re not alone. Ongoing DDoS at
Solana needs Firedancer, ‘ChatGPT moment’ to rival ETH, proponents say
Tom Mitchelhill5 hours agoSolana needs Firedancer, ‘ChatGPT moment’ to rival ETH, proponents saySolana might have a shot at flipping Ethereum, but only if it can overcome a series of obstacles.3281 Total views5 Total
Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now
Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren"t Advisable Right Now On Sunday, Saudi Arabia and several major oil producers announced thei
Derek Andersen2 hours agoClass-action suit filed against Binance for alleged harm to FTX before its collapseA California resident is suing Binance and its CEO for tweets last November that, according to allegations, led