Cardano price forecast: ADA market volumes dip $3.4B in 4 days, $1.50 rebound ahead?

Caradano price analysis:

Cardano opened trading at $0.96 on Wednesday, November 27, down 17% from last week’s peak of $1.54. Markets data shows traders holding their positions in hopes of an early rebound.

Will ADA price retake the $1 mark or succumb to deeper correction below $0.90?

Cardano finds support at $0.95 amid market consolidation phase

The crypto market slipped into a consolidation phase shortly after a profit-taking wave that ensued after Bitcoin’s failed attempt at breaching $100,000 sparked widespread liquidations. Amid the market dip, mid-cap altcoins like Cardano (ADA), Avalanche (AVAX) and SUI have a posted resilience around key short-term support levels.

In terms of recent price action ADA price has delivered a remarkable 268% rally between November 5 and November 23, propelled by expectations that Trump’s incoming administration could launch a new Blockchain voting system on the Cardano network.

But as the crypto market rally hit a snag this week, Cardano price has succumbed to a 16% pull back, finding support at the $0.96 level at press time on November 27.

Market volumes drop $3.4B in 3-days as traders hold out for rebound

However; a closer look at the recent trading data suggests signs early signs of sell-fatigue as majority of ADA traders are now holding out for the next rebound phase.

In affirmation of this stance, Coinglass’ Trading Volume chart below tracks the dollar value of all daily transactions involving ADA. This allows users to monitor traders overall reaction towards key price movements and market events.

The chart above shows that ADA trading volume reached $6.2 billion when prices peaked at $1.55 on November 23. But as the correction phase began, trading activity has declined considerably. The latest data shows that only $2.8 billion worth of ADA traders were executed on November 26.

In clear terms, while prices have only dropped by 16% in the last 3-days, the trading volumes have dropped by more than 54%. When market volumes dip faster than price during a market consolidation phase, strategic traders may interpret it as a bullish rebound signal.

First it signals that majority of current holders are unwilling to sell at the current prices, instead holding on their ADA coins in expectation of an early rebound phase.

Second, the sharp drop in trading volume during consolidation indicates a reduction in selling pressure. With fewer sellers in the market, demand can start outweighing supply, sparking a rapid price recovery.

In this scenario, if Cardano trading volumes rebound alongside positive price action, it could confirm renewed bullish momentum for ADA.

ADA price forecast: Bulls must hold $0.90 support, to keep $1.50 rebound hopes alive

Cardano price outlook remains cautiously optimistic, as the 54% decline in trading volumes this week signals seller-fatigue and overall resilience among current holders.

In terms of short-term projections, ADA price is currently hovering around $0.9553, with firm psychological support at $0.90.

A breakdown below $0.90 here could expose ADA to the lower support at $0.78, aligned with the Donchian Channel midline, which might trigger a bearish continuation.

However, the RSI trending at 72.73 indicates overbought conditions but reflects sustained bullish sentiment. However, a dip below 70 could signal weakening momentum, pressuring key support levels.

On the upside, immediate resistance lies near $1.15, as defined by the Donchian Channel’s upper boundary. A decisive multi-day close above this level could reignite hopes for a rally toward the $1.50 psychological mark.

, provided ADA avoids slipping below $0.90. Traders will watch RSI shifts and keysupport retests for confirmation of ADA’s next trajectory