Here’s How High Cardano (ADA) Price Could Go This Week

Cardano (ADA) has been in traders mouths lately for the wrong reasons as the network split into two chains 3 days ago due to a glitch in the transactions. Because of this, a couple of exchanges decided to halt their trading of ADA.

Developers fixed the issue quickly and the blockchain returned to normal. Charles Hoskinson also explained that nothing was “shut down,” and it was just a rare node bug

Still, the event caused a big ADA price drop, and Bitcoin Cash even came close to overtaking ADA in market cap. Now the panic has cooled and ADA is trying to recover.

What the Cardano Chart Is Showing

On the 4H chart, the ADA price has been trending downward since late October, falling from around $0.65 to last week’s low near $0.387

That support level held, and the price is now hovering around $0.41–$0.42 – a sign that selling pressure may be easing. The first obstacle for bulls sits near $0.44–$0.45, where price recently stalled

If the Cardano price breaks above that range, the next target sits near $0.48. If sellers regain control, $0.387 remains the key level to watch – losing it could trigger another leg down.

Right now, the chart suggests ADA may be forming a short-term bottom.

Source: Coinank Market Indicators

Oversold conditions in the RSI appear to be a thing of the past as it is sitting within a more neutral range suggesting a healthy momentum.

MACD is crossing upwards, showing early bullish momentum.

Open interest remains steady, which tells us traders are cautious, not aggressively long or short after last week’s volatility.

ADA Price Short-Term Outlook This Week

ADA is expected to rally $0.48 to the range if it is able to flip the $0.44–$0.45 range into support. If this does not occur, the ADA price is expected to drop lower within the $.40 region and retest nearby support around the $0.38 mark. Broader market sentiment will play a major role, especially with Bitcoin still moving sideways.

For now, ADA looks calmer, more balanced, and it is not in freefall anymore… With sentiment slowly improving and fears cooling off, Cardano may have room to climb, but bulls still need confirmation.

Read Also: Time to Buy Hedera at Current Levels? Analyst Updates His HBAR Price Outlook

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The post Here’s How High Cardano (ADA) Price Could Go This Week appeared first on CaptainAltcoin.