Cardano ADA trades near $0.24 as expert re-accumulation calls clash with bearish chart signals. Key breakout zones now matter.
Cardano’s ADA token is trading near a crucial support zone as commentary and chart data point to a possible inflection point.
A post from crypto market account Spidex AI described the current structure as a re-accumulation phase rather than a simple downtrend channel. The account said price compression near $0.24, falling volatility, and liquidity absorption could set the stage for a larger directional move.
However, the TradingView daily chart still shows a clear medium-term bearish structure, keeping traders focused on whether support can hold.
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ADA Price Holds $0.24 as Re-Accumulation Narrative Spreads
According to Spidex AI on X, ADA’s current setup is widely misunderstood by the market. The account argued that the visible descending channel masks a deeper re-accumulation process following a panic-driven sell-off.
Besides, the post highlighted that price continues to compress around the $0.24 region.
At the same time, volatility has declined, a pattern often associated with position building before expansion.
The source further pointed to the upper trendline near $0.27 to $0.28 as the structural trigger. A break above that region, it said, could shift the market narrative toward $0.30 first.
Beyond that, the account identified $0.50 to $0.60 as the next liquidity zone. It also noted that stronger macro conditions and Bitcoin alignment could accelerate a move toward $1.
Cardano Downtrend Structure Still Defines the Daily Chart
Despite the social media optimism, the TradingView daily chart still reflects a sustained bearish trend. ADA has declined from the $0.45 region in December to roughly $0.2377, maintaining lower highs and lower lows.
The latest candle closed down 4.73%. Moreover, repeated rejection near the $0.245 to $0.250 area confirms active seller presence.
The $0.23 to $0.24 band now remains the most important near-term support. A daily close below $0.235 could open a move toward the psychological $0.20 level.
On the upside, bulls first need to reclaim $0.25. After that, the stronger supply zone between $0.28 and $0.30 remains the bigger resistance cluster.
ADA tests $0.23 support as bearish momentum builds, Source| TradingViewMomentum Signals Show Weakness, Not Full Capitulation
Momentum indicators continue to lean bearish, though they do not yet suggest exhaustion. The RSI currently sits at 40.72, below its moving average of 44.78.
That positioning suggests weakening upside momentum. However, it still leaves room for another downward extension before oversold conditions appear.
Meanwhile, the MACD remains nearly flat around the zero line. The MACD line stays slightly below the signal line, while the histogram momentum continues to fade.
This setup often reflects indecision inside an existing downtrend. Besides that, elevated sell-side volume near 173.21 million ADA adds conviction to the latest decline.
The next decisive move likely depends on whether ADA breaks above $0.25 or loses $0.235 support first.
Source: https://www.livebitcoinnews.com/cardano-price-holds-0-24-amid-bearish-trend-whats-next-for-ada/
