Cardano Price Forecast: Can ADA Hold Above the $0.34 Support Level?

Source: CryptoNewsNet Original Title: Cardano Price Forecast for Dec 30: Can ADA Hold Above the $0.34 Floor? Original Link: Cardano (ADA) is under pressure heading into the new year, and its chart clearly shows bears firmly in control as prices slide lower. The price currently trades around $0.351, marking a sharp 7.2% decline over the past 24 hours. This move places ADA near the lower end of its daily range ($0.3495–$0.3784), signaling weak short-term sentiment.

From a technical perspective, immediate support may be forming near the $0.34 zone, which acts as a short-term floor. If this level fails to hold, ADA could see additional downside as buyers appear hesitant to step in aggressively at current levels. On the upside, resistance sits between $0.37 and $0.383, where multiple intraday rejections have occurred.

Looking at broader performance, Cardano has struggled across multiple timeframes, posting a 4.0% decline over the past 7 days and a steeper 7.9% drop in the last 14 days.

With ADA trading below key resistance and momentum leaning bearish, the next few sessions will determine whether support can stabilize price action or trigger deeper losses.

Will Cardano Find a Footing?

Notably, Cardano’s technical indicators continue to reflect a bearish structure, with sellers maintaining control. The Supertrend indicator remains firmly above price action, currently near the $0.415 level, confirming that ADA still trades within a broader downtrend.

This positions the $0.41–$0.42 zone as a major resistance area, where any short-term recovery attempts will likely face strong selling pressure. As long as the price remains below this Supertrend resistance, upside moves will stay limited and act as corrective rallies rather than true trend reversals.

On the downside, ADA is hovering near a key support zone around $0.340, which has acted as a short-term floor during recent consolidation. A clean break below this level could expose further downside toward the $0.33 region.

Momentum indicators also lean bearish, with the True Strength Index (TSI) remaining in negative territory and showing sideways momentum. For Cardano to stabilize, holding above the $0.34 floor is crucial; otherwise, continued pressure below resistance may keep ADA vulnerable to further declines.

End of Cycle Accumulation?

Cardano may be entering a late-stage accumulation period before its next major breakout, according to analyst Crypto4light. Specifically, ADA could trade sideways around a long-term demand zone that previously fueled past rallies, while remaining capped below a descending resistance line from the 2021 peak.

A successful hold and breakout from this structure could shift momentum bullish again, with the potential to drive a strong upside move toward the $1.30–$1.95 range once accumulation is complete.