Here’s How Cardano (ADA) Price Can Reach $1 This Week

Cardano price has not been encouraging this week. The token has dropped by around 8% in the last four days, continuing its slow and weak price action.

ADA price has been moving in a downward channel for a while. Every time it tries to rise, sellers push it back down. The $0.90 mark sits at the top of that channel. That top has stopped a number of bullish moves in the past.

If Cardano price can push above that level, things might shift. The next targets would be $0.95 and then $1. Passing $1 would show a strong change in market confidence. It could be the start of a steady climb after months of quiet trading.

@ali_charts / X

Ali’s chart shows ADA bouncing inside a falling channel. Fibonacci levels are drawn across the setup, marking key price zones. ADA is now near $0.88, just below the resistance.

The chart shows that a break above $0.90 could start small rallies. The price may move up to $0.95, take a short pause, then target $1.10. The dotted line suggests a slow and steady rise.

Technical Indicators Show Sellers Still in Control

The technical indicators from the daily timeframe on Investing.com still point to weakness. Most tools show that sellers remain in charge, though some signs suggest a bounce could be near.

Name Value Action RSI(14) 40.416 Weak momentum shows sellers are still active STOCH(9,6) 20.511 Buying power is low, showing little demand right now STOCHRSI(14) 13.533 Oversold conditions may cause a short-term rebound MACD(12,26) -0.004 Bearish momentum is still weighing on price ADX(14) 43.903 Trend strength remains high, favoring sellers ROC -3.154 Negative pressure is still present Bull/Bear Power(13) -0.0131 Bears have a slight advantage over bulls

Technical Indicators Summary: Strong SellBuy: 0 | Neutral: 0 | Sell: 7

These readings show that sellers are still leading the market, and they are getting stronger. So, the hope of reaching $1 this week is getting dimmer; however, we also know that the script can change very quickly.

Read Also: Could Owning Just 1,000 XRP Tokens Make You Rich?

The top of the channel holds the key, and a breakout could send the price above the coveted $1 level again. If ADA price fails to pass that line, the token could remain in its channel for a while longer. Cardano’s fundamentals remain solid, but the focus right now is on price behavior.

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The post Here’s How Cardano (ADA) Price Can Reach $1 This Week appeared first on CaptainAltcoin.