Cardano gradually approaches an important support zone about $ 0.62, with several technical indicators that are aligned for a possible rebound. However, the lack of commercial volume leaves bulls waiting for a stronger confirmation.
Cardano (ADA) It has been in a slow decrease in the latest sessions. The operators are now closely monitoring the region of $ 0.62, which serves as a critical level of confluence, incorporating the support of Fibonacci, the historical horizontal support and the overlap of the value area, which makes it a possible pivot point if the feeling changes.
Key technical points
- Critical support zone: The $ 0.62 area includes the fibonacci setback 0.618, daily horizontal support and overlap of the value area, forming a strong technical base.
- RSI Signal Building Supervendide: The relative force index is approaching the territory of overalls, suggesting that a possible investment may be close if the price continues to decrease.
- Still dry volume: Despite approaching support, there is no significant increase in the volume of negotiation, which limits confidence in any immediate rebound.
Detailed analysis
The price action was recently broken below the control point and is now in a tendency towards the low value area. While this lower area has provided temporary support, the general structure of the market is still weak and the impulse continues down. The $ 0.62 support stands out due to its convergence with the golden pocket of the current setback movement.
If the price reaches this level, while RSI enters oversized conditions, it would point out a potentially favorable configuration for a technical rebound. However, for any rebound to win traction, confirmation through volume increase is essential. Until now, the low volume has made the correction look slow and little convincing, with little evidence of a strong interest of buyers.
Past retaccos have also lacked significant bullish monitoring, which increases bets on how ada reacts at this support level. A strong defense of $ 0.62 with ascending volume could start a movement towards the upper range. On the contrary, a clean rest below this level could trigger a downward impulse.
What to expect in the next price action
Cardano is approaching a critical decision point. A bounce confirmed at $ 0.62, backed by an overene RSI and a remarkable increase in volume, would support a short -term recovery. If this level fails, the door opens for a prolonged decrease, especially if it is accompanied by an increase in the bearish volume.