Cardano (ADA) Consolidates Near IDR10,400: Correction Risk or Rebound Opportunity?

Updated

April 17, 2025

Gambar Cardano (ADA) Consolidates Near IDR10,400: Correction Risk or Rebound Opportunity?

Jakarta, Pintu News – Cardano price is currently in a consolidation phase after experiencing selling pressure recently. In line with the movement of Bitcoin and Ethereum , ADA experienced a significant drop from $0.680 to near $0.6040. Despite a slight recovery, the pressure around the resistance zone remains strong, leaving the market vulnerable to further moves.

Cardano Faces Important Resistance

In the last few trading sessions, Cardano dropped sharply from the $0.680 area (approx . IDR11,442, using an exchange rate of IDR16,820/USD). After breaking support at $0.650 and $0.640, the price formed a new low at $0.6040 (approx . IDR10,157).

Currently, ADA is trading slightly above $0.6120, but remains below $0.640 and its 100-day simple moving average. Technically, Cardano is having a hard time getting past the resistance in the $0.6260 zone, which coincides with the 50% Fibonacci retracement level of the recent decline.

The next major resistance is at $0.6350 (approx . IDR10,679), which is reinforced by the bearish trend line formed on the hourly chart. If the price is able to break and hold above this level, the potential for strengthening towards $0.6480 (IDR10,899) is wide open, and could even break back to the $0.680 zone.

Also Read: XRP Current State: Price Consolidation and Potential Breakout Amid Ripple and SEC Deal

Downside Risk if Resistance Fails to Break

If Cardano fails to break the resistance at $0.6350, then it is likely that the price will come under selling pressure again. The nearest initial support is around $0.6040. If this support is unable to hold, Cardano could continue its decline to the important area of $0.6000 (approx . IDR10,092).

A break below $0.6000 will open the way towards the next support at $0.5800 (approx . IDR 9 , 755). If the selling pressure persists, the $0.5550 (approx . IDR9,341) zone becomes the next target where buyers are likely to be active again to defend the price.

Technically, the MACD (Moving Average Convergence Divergence) indicator for the ADA/USD pair is now moving within the bearish zone, signaling a short-term negative momentum. The RSI (Relative Strength Index) is also below the 50 level, reinforcing the current weak sentiment in the market.

Cardano Outlook: Consolidation or Rebound?

Cardano’s current situation reflects the general uncertainty in the cryptocurrency market. On the one hand, there is potential for a rebound if the price is able to break the key resistance zones around $0.6350 and $0.6480. On the other hand, failure to surpass these zones could extend the downtrend towards lower support.

Investors and traders are advised to pay close attention to price movements around this critical zone, as the next direction largely depends on whether buyers can overcome strong selling pressure.

Conclusion

Currently, Cardano’s price is at a critical point. With strong bearish pressure, but a potential breakout if the key resistance is broken, ADA presents both opportunities and risks for market participants. For the short term, the main concern is focused on the $0.6350-$0.6480 zone as the next direction determinant. Staying disciplined with risk management and closely monitoring market movements is key in dealing with the current volatility in the crypto world.

Also Read: XRP Price Outlook After Ripple and SEC Lawsuit Settlement

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

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