Cardano (ADA) has triggered an oversold signal with its Relative Strength Index (RSI) at 36.6, suggesting a potential short-term rebound. On September 25, ADA fell 1.38% to $0.816, trading below its 20-day and 50-day moving averages but remaining above the 200-day average. The cryptocurrency is expected to consolidate between $0.768 and $0.790 in the near term.
Long-term optimism for Cardano is bolstered by a 9% approval rate for Cardano-based ETFs and a new roadmap focusing on DeFi and ecosystem growth. Institutional interest is increasing, with companies like Reliance Global incorporating ADA into their treasuries. Analysts highlight that a close above $0.868 is essential for a sustainable recovery.
Cardano (ADA) Shows Oversold Signal, Eyes Short-Term Rebound
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