ADA Price Prediction: Bulls to Target an ADA Return to $0.270

Key Insights:

• ADA rallied by 2.32% on Monday to end the day at $0.265.
• A lack of Input Output HK updates left a bullish crypto session and the NASDAQ mini to deliver support.
• The technical indicators remain bearish, signaling a possible return to sub-$0.250.

ADA rallied by 2.32% on Monday to end the day at $0.265. The bullish session followed a flat Sunday session. Notably, ADA avoided a sub-$0.260 finish for the first time in eight sessions.

A mixed start to the day saw ADA fall to an early morning low of $0.257. Steering clear of the First Major Support Level (S1) at $0.256, ADA rallied to a final-hour high of $0.266. ADA broke through the First Major Resistance Level (R1) at $0.261 and the Second Major Resistance Level (R2) at $0.263 to end the day at $0.265.

Hoskinson and the NASDAQ Mini Delivered Much-Needed Support

It was a quiet Monday, with no Input Output HK (IOHK) updates to provide direction. However, investors appeared to respond favorably to a Charles Hoskinson Twitter space with his bother William Hoskinson.

While the inclusion of cryptos on leading exchanges remains a significant influence, Hoskinson addressed concerns over the absence of ADA on Gemini. The Cardano founder pointed out that FTX did not list ADA and collapsed, and Gemini has also been in trouble following the decision by Genesis Digital Trading to pause withdrawals.

However, there were no updates on the expected influx of projects to support the bullish session. The imminent launches of the algorithmic stablecoins remain ADA-positive as the Near Year approaches.

For the day ahead, a lack of IOHK updates will likely leave ADA in the hands of the broader crypto market. A bullish NASDAQ Index could deliver support in the afternoon session and reverse the morning losses.

ADA Price Action

This morning, ADA was down 0.38% to $0.264. A mixed start to the day saw ADA rise to an early high of $0.266 before falling to a low of $0.263.

Technical Indicators

ADA needs to avoid a fall through the $0.263 pivot to target the First Major Resistance Level (R1) at $0.268. A move through the morning high of $0.266 would signal a bullish session. However, ADA would need the broader market and the NASDAQ Index to support a breakout afternoon session.

In the event of an extended rally, the bulls will likely take a run at the Second Major Resistance Level (R2) at $0.272 and $0.275. The Third Major Resistance Level (R3) sits at $0.281.

A fall through the pivot would bring the First Major Support Level (S1) at $0.259 into play. Barring an event-fueled sell-off, ADA should avoid sub-$0.255 and the Second Major Support Level (S2) at $0.254. The Third Major Support Level (S3) sits at $0.245.

This morning, the EMAs and the 4-hourly candlestick chart (below) sent a bearish signal.

ADA sat below the 100-day EMA, currently at $0.274. The 50-day EMA flattened on the 100-day EMA, while the 100-day EMA fell back from the 200-day EMA, delivering mixed signals.

A move through R1 ($0.268) would support a run at R2 ($0.272) and the 100-day EMA ($0.274). However, a fall through the 50-day EMA (0.263) would leave ADA at risk of a fall through S1 ($0.259).