Cardano Price Prediction: ADA Rebounds From Key Buy Wall

Cardano Price Prediction Analyst Sees Strong Buy Wall Support

ADA Price is recovering after a buy wall. Analysts emphasize a fresh demand and possible momentum to the upside, yet still ahead of major resistance zones since the bulls seek to regain the $0.63 level.

ADA Holds Strong After Rebound From Buy Wall

Analyst @CW8900 reported to X that Cardano has recovered over a significant buy wall, implying that more people were buying it at its current price. 

This chart shows that buyers had taken downward pressure many times around this support, thereby establishing it as a major accumulation zone.

Source: X / @CW8900

There are three sell walls above the buy wall, which are marked in red and which were used historically as rejection zones. Such areas coincide with previous ranges of consolidation where the pressure of the sellers increased. 

The analyst opined that the coin is currently range-bound and buyers will have to break these upper resistance bands before they can rally to $0.63. 

Analysts Eye Long-Term Rally Toward All-Time High

Another analyst, MinswapIntern, was hopeful that Cardano might one day hit a new all-time high (ATH), which would make people believe in the growth. 

The chart shown with it gives a bullish forecast, with the crypto moving into a period of consolidation and base-building, and then a potential explosion of the slide by 2026.

Source: X / @MinswapIntern

This analysis indicates that the asset may increase to as much as or more than $5 when the wider market environment conforms to network development and adoption. This ambitious upward trend is symbolized by the green arrow that is visualized on the chart. 

Open Interest Drop Signals Market Stability

At the time of writing, ADA is trading at approximately $0.5687 with an average intraday performance of more than 2%. The on-chain metrics and derivatives data indicate that open interest decreased significantly after the October sell-off and has been stable between 290M and 300M since. 

This recurrent fall on leverage is an indication of less speculation, which makes the price less volatile.

Source: Open Interest Data

The chart indicates the asset has moved sideways in the range of $0.55 to $0.60 and this is a reflection of a low-volatility period during which buyers are still protecting the support levels. This is seen by the analysts as a positive indicator of market equilibrium, and lower leverage permits organic price growth.