Cardano (ADA) Holds Strong Above $0.64, But Bearish Momentum Persists
Key Support Levels: $0.64, $0.45
Key Resistance Levels: $0.90, $1.31
After a turbulent trading period, Cardano (ADA) has stabilized around the critical support level of $0.64. This zone has proven resilient, preventing further declines despite prevailing selling pressure. However, the overall market trend remains bearish, with a consistent pattern of lower highs and lower lows. This downward momentum could soon put renewed pressure on the support level.
Sellers Maintain Control
ADA experienced a sharp rally when former U.S. President Donald Trump announced the establishment of a U.S. Crypto Strategic Reserve, which included Cardano. The price briefly surged above $1 before retracing entirely to pre-announcement levels. This rapid correction suggests that the surge was driven by short-term speculation rather than sustained investor demand.
Bearish Outlook on the Weekly MACD
The weekly Moving Average Convergence Divergence (MACD) indicator has remained bearish since its downward crossover in late January. Even Trump’s announcement failed to disrupt the ongoing downtrend. If ADA loses support at $0.64, the next downside target is likely around $0.50.
XRP Defends $2 Support, But Can Bulls Maintain Control?
Key Support Levels: $2, $1.6
Key Resistance Levels: $3, $3.41
XRP has managed to stay above the crucial $2 support level despite intense market volatility. This level has been tested five times since December 2024, with buyers stepping in to defend it on each occasion. However, sellers continue to increase pressure, making the current price action a key battleground.
XRP at a Crucial Turning Point
As long as XRP holds above $2, the bullish uptrend remains intact. However, repeated attempts by sellers to breach this level increase the likelihood of a breakdown. To sustain upward momentum, buyers need to push the price higher and establish a more secure position above key resistance zones.
Bearish Momentum Gaining Strength
Despite buyers’ efforts, market indicators suggest growing bearish pressure. The weekly MACD is accelerating downward following a recent bearish crossover. If buyers fail to regain control, XRP could see a drop to $1.6 in the near future.
