Crypto analyst Ali Martinez has identified a key demand zone for Cardano (ADA) between $0.37 and $0.38. This zone is significant because it saw widespread accumulation, with 166,470 wallets purchasing around 4.88 billion ADA at these price levels. This accumulation indicates strong support and suggests that the price may be held up. Furthermore, there is minimal resistance above this level, which could pave the way for ADA to reach new yearly highs. However, Martinez warns that falling below this support level could be disastrous for the price, potentially triggering a brief correction to $0.34. In addition, the Cardano TD Sequential indicator has presented a sell signal on the weekly chart, indicating the possibility of further downside if ADA loses the $0.37 support. However, if ADA manages to close above $0.4, it could invalidate the bear signal and potentially lead to an advance toward $0.46. On the 4-hour chart, Martinez notes that the 100-EMA has acted as a rebound zone for ADA, while $0.396 has been a level of resistance. A buy signal within this time frame suggests another rebound, but confirmation of the ADA trend direction requires a 4-hour candlestick close above the $0.396 resistance or below the 100-EMA. Overall, the analysis highlights the importance of the key demand zone for ADA and the potential for both positive and negative price movements depending on the support and resistance levels.