Cardano’s native token ADA has lost approximately 20% of its value in under two weeks, reigniting concerns among investors. However, recent price movements and technical indicators suggest that a reversal could be on the horizon. The asset is currently testing a key upward trend line that has historically served as a support level during earlier dips in July and August [1]. If this level holds, ADA could retest and potentially exceed its previous high of around $1.
The price chart shows a consistent pattern of higher highs and higher lows, with ADA finding support at $0.56 in early July, $0.66 in early August, and currently hovering near $0.84 [1]. Analysts note that maintaining this trend could signal a continuation of the bullish momentum seen earlier in the year, rather than a full trend reversal.
Weekly technical indicators reinforce this view. The RSI (14) stands at 54.984, placing ADA in the neutral zone and suggesting the…
