Cardano Eyes a Reversal as Falling Wedge Pattern Tightens
- ADA forms a falling wedge, hinting at a possible bullish reversal once $0.70 is reclaimed.
- Key resistance lies at $0.70, while $0.65–$0.62 serves as crucial support.
- Broader market sentiment and ADA’s DeFi growth could shape the next breakout direction.
Cardano (ADA) is hanging in there after taking a hard hit recently, and traders are starting to pay attention again. On shorter timeframes, the charts show a falling wedge — one of those setups that often hints at a trend reversal, assuming buyers can finally push through the key resistance zones. It’s the kind of formation that shows the market’s been cooling off, but pressure might just be building under the surface.
Falling Wedge Could Be the Calm Before the Breakout
On the 4-hour chart, ADA’s price looks like it’s being squeezed tighter and tighter, with lower highs and higher lows closing in on each other. Analyst Sssebi pointed out that reclaiming $0.70 and holding it with multiple strong closes could be the sign bulls have been waiting for. When this sort of compression happens, it usually means sellers are running out of steam. Once buyers return in force, a quick breakout can follow — sometimes catching the market off guard.
Crucial Levels to Watch: $0.65 Support and $0.70 Resistance
Right now, $0.70 is the main roadblock. ADA’s tried to push above it a few times but keeps getting knocked back. If bulls finally break through, the next targets are $0.75 and $0.80 — both levels that could reignite short-term momentum. On the downside, support sits around $0.65 and $0.62, with deeper risk if price dips toward $0.50.
Volume’s been quiet while the wedge narrows, which is typical before a big move. The RSI sits mid-range, showing the market’s undecided — waiting for that spark of conviction to pick a direction.
The Bigger Picture for ADA
Zooming out, Cardano’s short-term fate still ties closely to how the overall crypto market behaves — especially with macro conditions shifting and risk appetite fluctuating. But fundamentally, the network’s been growing. DeFi activity is up, and steady ecosystem upgrades are keeping long-term investors interested.
If the wedge breaks upward, ADA could be on track for a clean run toward $0.80, maybe more if the rally gains traction. But if $0.70 keeps rejecting, Cardano might drift sideways for a while, caught in that frustrating range traders know too well. Either way, the next move looks like it’s loading.
The post Cardano Eyes a Reversal as Falling Wedge Pattern Tightens first appeared on BlockNews.
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Cardano Eyes a Reversal as Falling Wedge Pattern Tightens
- ADA forms a falling wedge, hinting at a possible bullish reversal once $0.70 is reclaimed.
- Key resistance lies at $0.70, while $0.65–$0.62 serves as crucial support.
- Broader market sentiment and ADA’s DeFi growth could shape the next breakout direction.
Cardano (ADA) is hanging in there after taking a hard hit recently, and traders are starting to pay attention again. On shorter timeframes, the charts show a falling wedge — one of those setups that often hints at a trend reversal, assuming buyers can finally push through the key resistance zones. It’s the kind of formation that shows the market’s been cooling off, but pressure might just be building under the surface.
Falling Wedge Could Be the Calm Before the Breakout
On the 4-hour chart, ADA’s price looks like it’s being squeezed tighter and tighter, with lower highs and higher lows closing in on each other. Analyst Sssebi pointed out that reclaiming $0.70 and holding it with multiple strong closes could be the sign bulls have been waiting for. When this sort of compression happens, it usually means sellers are running out of steam. Once buyers return in force, a quick breakout can follow — sometimes catching the market off guard.
Crucial Levels to Watch: $0.65 Support and $0.70 Resistance
Right now, $0.70 is the main roadblock. ADA’s tried to push above it a few times but keeps getting knocked back. If bulls finally break through, the next targets are $0.75 and $0.80 — both levels that could reignite short-term momentum. On the downside, support sits around $0.65 and $0.62, with deeper risk if price dips toward $0.50.
Volume’s been quiet while the wedge narrows, which is typical before a big move. The RSI sits mid-range, showing the market’s undecided — waiting for that spark of conviction to pick a direction.
The Bigger Picture for ADA
Zooming out, Cardano’s short-term fate still ties closely to how the overall crypto market behaves — especially with macro conditions shifting and risk appetite fluctuating. But fundamentally, the network’s been growing. DeFi activity is up, and steady ecosystem upgrades are keeping long-term investors interested.
If the wedge breaks upward, ADA could be on track for a clean run toward $0.80, maybe more if the rally gains traction. But if $0.70 keeps rejecting, Cardano might drift sideways for a while, caught in that frustrating range traders know too well. Either way, the next move looks like it’s loading.
The post Cardano Eyes a Reversal as Falling Wedge Pattern Tightens first appeared on BlockNews.
Read More
TRON (TRX) Hints at a Rebound as Bulls Quietly Build Momentum