|

Cardano Price Prediction: ADA spells trouble for the bulls as it eyes $1

  • Cardano price cannot shake off the negative sentiment that it is producing.
  • For a third consecutive week, ADA is set to dip lower.
  • Any favorable tailwinds are missing to break current sentiment, but some buy-opportunity might come along.

Cardano price is stuck in the same global route as other major cryptocurrencies like Ethereum and Bitcoin. Any major favorable tailwinds are missing to break current selling sentiment and it does not look like buyers are interested in going long from current levels.

Cardano price needs to drop another 10% before buyers pick up some ADA

Cardano price sees that the short-selling action is very well respected on the upside. Each time ADA dips lower, it makes a false recovery the day after, only to drop below the initial low level and stay there as that support becomes resistance. This was the case for the week of July 5 and is unfolding now again.

ADA cannot seem to get above $1.21, which was the low from the week of June 28. 

On the downside, Cardano price has $1.15, but that level has already been broken several times. It still looks to hold some importance as ADA tested that level last week but could not break below it.

ADA/USD weekly chart

ADA/USD weekly chart

The squeeze to the downside looks to be continuing for another week. This is due to the technical levels at $1.21 and the lack of any positive sentiment surrounding cryptocurrencies. A catalyst or any favorable tailwind is missing that could squeeze short-sellers out of their position and usher buyers back in.

Still, there are opportunities for a long. Further to the downside, Cardano price has a red ascending trend line that has already shown its importance with two confirmed tests where price action bounced off to the upside each time. Expect buyers to defend this level, which this week would be around $1.04. A critical level to watch is if this trend continues in the coming days and if Cardano gets another negative close by the end of the week.

Author

Filip Lagaart

Filip Lagaart is a former sales/trader with over 15 years of financial markets expertise under its belt.

More from Filip Lagaart
Share:

Editor's Picks

Bittensor extends recovery despite retail demand slump

Bittensor, a leading Artificial Intelligence token, is aging up above $190 at the time of writing on Wednesday. Steady price increases characterise the broader crypto market, with Bitcoin holding above $71,000 and Ethereum above $2,000.

XRP rises as ETF inflows persist, but low retail demand may limit recovery

Ripple is gaining upside momentum, trading above $1.40 at the time of writing on Wednesday. The remittance token is rising in tandem with major crypto assets, including Bitcoin, which has crossed above the pivotal $70,000 level, and Ethereum, which is holding above $2,000.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid mixed ETF flows

The cryptocurrency market is showing subtle recovery signs despite heightened global uncertainty following the United States (US) and Israel attacks on Iran and the subsequent retaliations that have morphed into a wider Middle East war.

Renewed ETF inflows send BTC above $71,000, offsetting war uncertainty

Bitcoin price rises by 5%, near the upper boundary of the recent consolidation range. US-listed spot ETFs recorded an inflow of $225 million on Tuesday, marking the second consecutive day of positive flows this week.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.