Cardano (ADA) is part of the Crypto Strategic Reserve and is currently facing challenges amid bearish market sentiment. Today, on March 8, 2025, the asset experienced a 5% price drop, reaching a critical support level.
Cardano (ADA) Technical Analysis and Future Levels
Concerns are growing as ADA approaches a crucial support area, questioning whether the price will hold or dip further due to the prevailing bearish market sentiment. The upcoming days will shed light on the outcome.
Expert technical analysis suggests that the $0.81 level serves as a robust support zone with notable buying pressure and potential for a price reversal. A close below $0.81 could lead to an 18% decline to $0.68. Conversely, maintaining this level could trigger a 35% surge, propelling ADA to $1.15 in the future.
Currently, ADA is trading near the 200 Exponential Moving Average (EMA), indicating strong support and signaling an ongoing uptrend.
Current Price Momentum
As of now, ADA is priced around $0.827, with a 5% price drop over the past 24 hours. Trading volume has also decreased by 10%, suggesting reduced participation compared to the previous day.
Despite market uncertainty, traders are heavily positioned at $0.804 and $0.84, as per Coinglass. These levels show significant long and short positions, with bulls potentially offering support to maintain the current price level.
