Cardano ($ADA) Buy Signal Sparks Rebound Hopes Amid Key Resistance at $0.690

  • TD Sequential buy signal raises hopes for a Cardano price rebound.
  • Traders eye the $0.690 resistance level as the key for Cardano’s next move.

Cardano ($ADA) may be on the road to a price recovery as a critical technical signal suggests a potential upward movement. On April 5, 2025, the TD Sequential indicator triggered a buy signal on the daily chart, sparking optimism in the market. 

The signal comes after a period of price consolidation, leading analysts to speculate about a possible bullish reversal. At the time of writing, Cardano’s price stands at $0.6525, reflecting a 1.27% decrease in the last 24 hours.

TD Sequential Buy Signal: Potential for Reversal

The TD Sequential is a widely used technical tool that helps identify trend reversals by counting consecutive candles. When it reaches a specific number, the indicator triggers buy or sell signals based on market momentum. On April 5, cryptocurrency analyst Ali highlighted the buy signal for Cardano.

Ali explained that the appearance of this signal suggests that selling pressure could weaken, allowing for an upward shift in price. For Cardano, this signal follows a period of price consolidation, a phase often associated with a potential trend change.

Analysts like Ali believe that if the buy signal holds, Cardano could see a price recovery in the coming days. However, despite the optimism, caution is advised, as Cardano may face resistance levels before confirming any bullish movement.

Resistance Levels and Market Outlook

As Cardano’s price hovers near $0.654, traders focus on key resistance levels that could determine its next move. Analysts watch the $0.690 level as a potential target if Cardano breaks the resistance. If this happens, the cryptocurrency could experience a sustained upward movement, indicating the beginning of a bullish trend.

Cardano 1Day-Chart | Source: TradingView

However, it is crucial to keep an eye on the support zone around $0.64. If this support level fails, Cardano could face further declines, potentially testing $0.60 or even $0.55. Coincryptonews recently reported that the Cardano Foundation recently introduced Veridian, a decentralized digital identity platform designed to enhance data security. The Veridian Wallet, now available on iOS and Android, allows users to manage their digital identities and credentials securely. As Veridian grows within the Cardano ecosystem, it could positively influence market sentiment, adding long-term potential to Cardano’s future.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.

Hot this week

Pump.fun Rebounds Strong, Secures 73% Solana Memecoin Launchpad Share

Pump.fun achieved $800M lifetime revenue faster than Facebook’s milestone.LetsBonk’s...

XRP Buy Signal Emerges as U.S. Service Mark Reinforces Legitimacy

Analyst Martinez highlights the TD Sequential buy signal, indicating...

VeChain Eyes $0.025 Breakout as Technicals and Fundamentals Align

VeChain (VET) holds steady above key support at $0.024 as technical signals hint at a breakout.

Chainlink’s $LINK/USD: Strategizing the $26.00 Entry Point in Today’s Market

$26.00 identified as a safe entry point for $LINK/USD.Recent...

Bitcoin Holds Fragile $113K Support as Market Awaits Next Breakout or Breakdown

Bitcoin holds fragile $113K support after a sharp pullback, with $115,950 as key resistance. Short-term weakness contrasts with strong yearly gains, leaving the market at a critical turning point.

Topics

Pump.fun Rebounds Strong, Secures 73% Solana Memecoin Launchpad Share

Pump.fun achieved $800M lifetime revenue faster than Facebook’s milestone.LetsBonk’s...

XRP Buy Signal Emerges as U.S. Service Mark Reinforces Legitimacy

Analyst Martinez highlights the TD Sequential buy signal, indicating...

VeChain Eyes $0.025 Breakout as Technicals and Fundamentals Align

VeChain (VET) holds steady above key support at $0.024 as technical signals hint at a breakout.

Bitcoin Holds Fragile $113K Support as Market Awaits Next Breakout or Breakdown

Bitcoin holds fragile $113K support after a sharp pullback, with $115,950 as key resistance. Short-term weakness contrasts with strong yearly gains, leaving the market at a critical turning point.

Kanye West’s $YZY Collapses 65% After $2B Market Cap Launch

Insider wallets secured huge profits before $YZY’s rapid market...

Ethereum Paired Against Bitcoin: Analyzing the Recent Trends

ETH/BTC is currently mid-range, with dips to 0.0323 seen...

While Ethereum Stalls, This Altcoin Is Exploding – Time to Make a Switch

Ethereum’s market performance has turned sharply lower in recent...
spot_img

Related Articles

Popular Categories

spot_imgspot_img