Cardano (ADA) has been moving sideways for weeks now. Since early March, the price has been stuck between $0.51 and $0.77. At the time of this post, ADA is trading at around $0.72. It’s in a calm zone, but that might change soon.
Many traders are watching closely, wondering if now’s the time to invest or wait for a stronger signal. Let’s break down what’s happening with the ADA price and if it makes sense to invest $1,000 right now.
What you'll learn 👉
A Bullish Pattern Is Forming on the Cardano Chart
Right now, there’s a pattern forming on the chart called an inverse head and shoulders. This is usually a sign that a trend might be reversing from bearish to bullish. The left shoulder and head are already complete.
The right shoulder is forming now. If the price manages to break above the neckline, which is around $0.77, it could lead to a nice move upward.
But don’t expect it to double or triple overnight. There’s a major resistance level that’s been holding Cardano back since November. If the price does break out today, the next target would be that trendline, about 30% higher from here. This is the real level we need to see ADA move past before we can say the trend has fully turned bullish.
So if you’re thinking about buying now, it might be smarter to wait and see if ADA breaks above that $0.77 level first.
What Are the ADA Indicators Saying?
Looking at the indicators, things are leaning slightly bullish. The Relative Strength Index (RSI) is around 61. That means the market still has room to grow before becoming overbought. It’s a positive sign, but not a guarantee.
The 50-day moving average is currently below the price, and that could help support the next upward move.
On the other hand, the 200-day moving average is above the price and acting as resistance. Interestingly, this resistance is right around $0.77, the same level we’ve been talking about. That’s why this zone is so important. If ADA pushes through it, we could see a proper breakout.
Short-term traders could wait for a clean breakout above $0.77 before jumping in. Long-term investors might see this as a good entry zone, but should be ready for some ups and downs along the way.
So, Is Now the Right Time to Buy ADA With $1,000?
It depends on what kind of investor you are. If you’re looking for a short-term move, it’s probably better to wait until ADA breaks out above $0.77 and shows strong momentum.
If you’re a long-term believer in Cardano and aren’t too worried about short-term price swings, this might be a decent spot to buy in slowly. Just be aware that the price is still inside a range, and nothing is confirmed yet.
Read Also: Is Cardano Dead? Analyst Says No – ADA Price Is Quietly Building Toward a New ATH Explosion
The overall crypto market is starting to look more bullish, and if Bitcoin keeps rising, ADA could benefit from that too.
If you’re okay with the current uncertainty and believe in the project, go for it. But if you want more confidence in the move, wait for the breakout above $0.77. That’s when things could really start to move.
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