The situation with Cardano ($ADA ) looks like a turning point for determining the trend for the next month. The market has just "digested" the mainnet launch #Midnigh , and now we see an attempt at stabilization.
Here is a brief technical analysis at the moment:
1. Current price and dynamics
Price: ~$0.241 – $0.243 (~10.60 UAH).
Status:
Over the past day, the price has dropped by approximately 1.3–1.5%. We see that the level of $0.24 has become a "line in the sand" for the bulls. Yesterday's bounce to $0.248 did not turn into a confident rise, and the price has returned to test the support zone again.
2. Technical indicators
RSI (14) ⚖️
Neutral Around 40-42. We are not in the oversold zone, but there is still not enough strength for growth.
EMA 50/200 🔴
Bearish Price is trading below both lines on the 4-hour chart. EMA 200 is currently acting as strong resistance around $0.265.
Delta (CVD) 🟢
Positive Interesting point: despite the slight price drop, the cumulative delta of volumes is starting to rise. This is a sign that the "limit orders" of large players are absorbing market sales.
3. Key levels for today
Support: $0.240. This is a critical level. If we close the day below $0.24, the way opens to $0.22 and below.
Resistance:
$0.252 – $0.255. Only a breakout of this zone will confirm that yesterday's liquidation gathering was successful and we are ready to go to $0.28.
4. Fundamental background
Midnight Launch:
The network has officially been in the mainnet since March 30. Binance has already added the trading pair $NIGHT , which creates additional interest in the Cardano ecosystem.
Whale Activity:
Data for March shows that wallets with a balance of 100k–1M ADA continue to accumulate. These are "smart money" that usually buy before significant moves.
Conclusion:
The chart is currently drawing a complex structure. If you closed the last deal, now is the perfect time to observe.
Advice:
Do not rush to enter while the price is "pressing" on the level of $0.24. It’s better to wait for a confident impulse above $0.25 on high volumes. This will be a signal that sellers have finally run out of steam.
