3 Reasons Why A Cardano Price Rebound Looks Likely
Despite a recent 30% drop, Cardano shows three bullish indicators suggesting a potential price rebound from critical support.Summary
Cardano (ADA) has experienced a significant price drop, falling nearly 30% in the last month and testing the lower support of its falling wedge structure around $0.45. However, three key indicators suggest a rebound might be imminent. First, the Chaikin Money Flow (CMF) shows a bullish divergence, indicating stronger money inflows than the price action suggests. Second, the On-Balance Volume (OBV) has broken above its downward trendline, signaling renewed buyer participation. Third, on-chain data shows strong conviction from long-term holders, as spent coins activity dropped sharply during the recent price correction. For a rebound to materialize, ADA must hold the critical $0.45–$0.44 support zone. A move above $0.50–$0.52 would confirm initial strength, but a true recovery requires retaking $0.60. Failure to hold $0.44, however, risks a breakdown toward $0.40.
(Source：BeInCrypto)