Cardano price (ADA) struggling below $0.70 – Selling risks still lurking?

As of March 29, Cardano (ADA) has yet to break above the $0.70 mark, indicating that the uptrend is losing momentum. Although there have been flashes of recovery in the short term, the current technical indicators reflect a clear weakening of the upward momentum.

Specifically, both BBTrend and ADX show that buying is gradually declining, while the structure of (EMA) exponential moving averages continues to tilt to the downside. With the ADA price locked between key support and resistance zones, the next move is likely to be the determining factor in the altcoin's short-term trend.

Cardano's ## BBTrend turns negative, signaling a reversal in momentum

Cardano's BBTrend indicator has just fallen into negative territory, currently recording at -0.78, ending a five-day streak of remaining in positive territory. Previously, the index peaked at 9.76 on April 14, clearly reflecting the strong momentum at that time.

BBTrend, short for Bollinger Band, is a tool that measures the intensity and direction of price movements relative to Bollinger Bands. When BBTrend is at a positive value, the market is usually inclined to the upside. Conversely, negative values are a sign that selling pressure is increasing or momentum is weakening.

! Cardano BBTrend Indicator | Source: TradingViewBBTrend's U-turn to fall below zero and now hit -0.78 indicates that ADA's recent rally is clearly weakening. The negative level of this index means that the price is approaching the lower band of the Bollinger Band – usually a warning signal about the risk of a correction or increasing selling pressure.

While this is not confirmation of a clear downtrend, BBTrend's reversal could set the stage for a prolonged consolidation phase, or even a deeper correction if momentum does not recover soon.

Traders should cautiously keep a close eye on further developments – whether Cardano will continue to lose value, or will soon bounce back from the support zone to establish a short-term direction for the coin.

Momentum weakens: ADX plunges, selling pressure increases

Cardano's DMI chart is sending negative signals as trend strength weakens markedly. The ADX index — which measures trend strength — plunged from 28.34 to 15.12 in just two days, suggesting that market momentum is drying up.

! Cardano DMI Chart | Typically, ADX above 25 signals a strong trend, while a value below 20 indicates that the market is weak or is fluctuating in a sideways zone. The fact that the ADX fell straight to this low level shows that ADA's recent rally is gradually dissipating.

At the same time, the +DI indicator (đại represent mua) pressure also slipped from 22.61 to 17.39 – a sign that demand is slowing down. In contrast, the (đại -DI indicator representing bán) pressure rose from 10.5 to 14.95, indicating that sellers are gradually dominating.

With both ADX and +DI weakening while -DI going up, the current technical picture is tilted to the downside. If buying doesn't return soon to regain balance, ADA is likely to fall into a sideways consolidation phase — or worse, usher in a short-term downtrend.

Discount structure still prevails

Cardano's (EMA) exponential moving averages continue to emit negative signals, as the short-term EMAs remain below the long-term ones — a clear sign that the current bearish trend shows no signs of ending yet.

! 4-hour ADA/USDT chart | Source: TradingView Currently, the ADA price is being supported at the $0.594 zone – an important milestone that acts as the "last bastion" of the bulls. If this level is penetrated, it is likely that ADA will enter a deeper correction rhythm, heading towards the $0.511 area. This scenario will further consolidate the downward momentum and reflect the increasing selling pressure in the market.

Conversely, if ADA can recover and regain momentum, the nearest resistance is located at $0.64. A break through this zone will open up the next breakout opportunity, with the next growth targets at $0.66 and $0.70, respectively.

In case the buying is strong enough to re-establish a clear uptrend, ADA might even bounce sharply to the $0.77 area – marking an impressive recovery phase and a clear signal of a trend reversal.

You can see ADA pricing here.

Disclaimer:*** The article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions

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