Cardano Price Pulls Back After $1 Rejection – Here are Important ADA Targets
Cardano Price Recovery Stalls Below $1
$Cardano recently showed strong momentum, with the Cardano price pushing higher and nearly reaching the critical $1 target. However, the broader crypto crash—led by Bitcoin’s drop—dragged ADA lower, forcing it back into a key support area.
The latest Cardano news shows that despite its recent strength, ADA remains highly correlated with Bitcoin and the wider altcoin market. This rejection at $1 now puts traders on alert for the next big move.
Cardano Chart Analysis: Key Levels to Watch
Based on the chart:
- Current Price: $0.8337
- Immediate Resistance: $0.8475 – If $ADA breaks above, it may retest $0.90 and $1.00.
- Support Zone: $0.80 – $0.81 (near 50-day SMA). A breakdown could send ADA to $0.72 (200-day SMA).
- Major Support Levels: $0.62 and $0.55 if the sell-off accelerates.
- RSI: 48.35, showing neutral to bearish momentum after rejecting the 60 level.
ADA/USD 1-day chart - TradingView
This suggests ADA is now consolidating between $0.80 support and $0.85 resistance, with Bitcoin’s direction likely to decide whether Cardano breaks higher or suffers a deeper correction.
Cardano Price Prediction: Short-Term Outlook
If ADA holds above $0.80, buyers could regroup for another attempt at the $0.90–$1.00 zone. A clean breakout above $1 would confirm bullish momentum and open the door for a rally toward $1.20 in the medium term.
However, if the Cardano crash deepens alongside Bitcoin, the next downside targets are $0.72 and $0.62. Holding above the 200-day SMA at $0.72 will be crucial to prevent a larger correction.
Cardano News and Market Impact
The Cardano price reflects the broader uncertainty in the crypto market. While network fundamentals remain strong, ADA’s short-term performance is tied closely to Bitcoin’s trend.
For now, traders should watch the $0.80 support closely. A breakdown could trigger panic selling, but a rebound here may give ADA another chance to reclaim momentum toward the highly anticipated $1 mark.
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Cardano Prepares for Another Push Toward $1
Cardano Price Pulls Back After $1 Rejection – Here are Important ADA Targets
Cardano Price Recovery Stalls Below $1
$Cardano recently showed strong momentum, with the Cardano price pushing higher and nearly reaching the critical $1 target. However, the broader crypto crash—led by Bitcoin’s drop—dragged ADA lower, forcing it back into a key support area.
The latest Cardano news shows that despite its recent strength, ADA remains highly correlated with Bitcoin and the wider altcoin market. This rejection at $1 now puts traders on alert for the next big move.
Cardano Chart Analysis: Key Levels to Watch
Based on the chart:
- Current Price: $0.8337
- Immediate Resistance: $0.8475 – If $ADA breaks above, it may retest $0.90 and $1.00.
- Support Zone: $0.80 – $0.81 (near 50-day SMA). A breakdown could send ADA to $0.72 (200-day SMA).
- Major Support Levels: $0.62 and $0.55 if the sell-off accelerates.
- RSI: 48.35, showing neutral to bearish momentum after rejecting the 60 level.
ADA/USD 1-day chart - TradingView
This suggests ADA is now consolidating between $0.80 support and $0.85 resistance, with Bitcoin’s direction likely to decide whether Cardano breaks higher or suffers a deeper correction.
Cardano Price Prediction: Short-Term Outlook
If ADA holds above $0.80, buyers could regroup for another attempt at the $0.90–$1.00 zone. A clean breakout above $1 would confirm bullish momentum and open the door for a rally toward $1.20 in the medium term.
However, if the Cardano crash deepens alongside Bitcoin, the next downside targets are $0.72 and $0.62. Holding above the 200-day SMA at $0.72 will be crucial to prevent a larger correction.
Cardano News and Market Impact
The Cardano price reflects the broader uncertainty in the crypto market. While network fundamentals remain strong, ADA’s short-term performance is tied closely to Bitcoin’s trend.
For now, traders should watch the $0.80 support closely. A breakdown could trigger panic selling, but a rebound here may give ADA another chance to reclaim momentum toward the highly anticipated $1 mark.
Read More