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Cardano ADA surges 7 percent after hitting daily low of 82 cents

Coin WorldFriday, Mar 7, 2025 5:16 am ET
1min read

On March 7, 2025, Cardano (ADA) faced significant resistance at the $0.88 mark after recovering from a dip to $0.82. The cryptocurrency's price movements throughout the day provided valuable insights into its market dynamics, with key support and resistance levels playing crucial roles in its performance.

The day began with a downward trend, pushing ADA's price towards its main support region at $0.82. Despite brief increases, ADA struggled to surpass the $0.94 resistance level. A pivotal moment occurred at 22:00 UTC on March 6 when ADA broke through the $0.88 support level, plummeting to a daily low of $0.82. However, robust buying activities enabled ADA to regain value, rising above $0.87 by 06:26 UTC on March 7.

Technical indicators played a significant role in confirming the market's movements. The Relative Strength Index (RSI) indicated an overbought condition during the 12:00 UTC period on March 6, suggesting an impending market adjustment. The RSI fell below 30 at 02:00 UTC on March 7, confirming an oversold market situation as ADA reached its daily bottom at $0.82. This oversold condition presented a valuable buying opportunity, with prices subsequently rising towards $0.88.

The Moving Average Convergence Divergence (MACD) indicator further supported the trend changes. A Golden Cross formed at 02:30 UTC on March 7, indicating a recovery while the RSI was at an oversold level. This bullish crossover suggested a return to upward market momentum. Conversely, a Death Cross formation at 12:00 UTC on March 6 signaled the start of price deterioration, leading to a substantial market breakdown.

Looking ahead, ADA's price performance will depend heavily on its ability to surpass the $0.88 resistance level. If successful, ADA could advance to the $0.90-$0.94 resistance region. However, failure to maintain prices above $0.86 could lead to another support reconfirmation at $0.82. The market's overall sentiment remains bullish as long as ADA can sustain its upward momentum and break through key resistance levels.

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lies_are_comforting
03/07
Golden Cross saved ADA from a nosedive. 🤔
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southernemper0r
03/07
@lies_are_comforting MACD to the rescue? More like ADA to the moon 🚀🤔
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Opening-Finger-4294
03/07
Death Cross scared the noob out of me, but bulls are patient. 📈
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Guy_PCS
03/07
Bullish ADA, but watch that $0.88 ceiling.
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mmmoctopie
03/07
ADA's rollercoaster's wild, but I'm HODLing. Gotta love the volatility for the bag gains.
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NRG1788
03/07
RSI rollercoaster matches my trading mood swings.
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Senyorty12
03/07
Resistance at $0.88 is like the crypto Mount Everest. Will ADA reach the top? 🚀
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Plane-Salamander2580
03/07
Resistance levels be like the in-laws—sometimes they visit uninvited and make a mess.
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BarrettGraham
03/07
@Plane-Salamander2580 Support levels be like the significant others—sometimes they show up unannounced and HODL tight.
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Codyofthe212th
03/07
When RSI hits oversold, it's like a sale on discounted dreams. Time to buy the dip!
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Excellent-Win-4625
03/07
@Codyofthe212th True, oversold means buy time.
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moazzam0
03/07
MACD's Golden Cross gave me FOMO feels. Almost dumped $TSLA for ADA, but nah.
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Ubarjarl
03/07
@moazzam0 Bruh, I sold my ADA way too soon. Now I'm just HODLing my TSLA, feeling that FOMO hard.
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CarterUdy02
03/07
@moazzam0 How long you been holding TSLA? Curious if you're thinking long-term or just trading vibes.
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Empty_Somewhere_2135
03/07
Stacking ADA, long-term hold despite volatility.
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