Buyers defend support as bulls aim for higher levels
Cardano (ADA/USDT) is trading near $0.891, posting modest daily gains as the token attempts to extend its recovery rally. The move follows a successful defense of the $0.80 support zone, where buyers have consistently stepped in to absorb selling pressure.
The chart highlights ADA consolidating just below the $0.90 resistance mark, a level that has acted as both support and resistance in the past. A break above this threshold could trigger an advance toward the $1.00–$1.05 zone, followed by a larger target around $1.20, where a major supply block remains.
A market analyst noted, “Cardano is showing resilience above $0.80. The real challenge now lies at $0.90 and $1.00, which are crucial psychological and technical levels for traders.”
On the downside, ADA has firm support between $0.78 and $0.80, highlighted in green on the chart. This region has been tested multiple times, and a breakdown could expose the price to lower levels near $0.70.
According to BITX strategists, “Maintaining the $0.80 floor is essential for ADA’s bullish outlook. If that level fails, the recovery structure may weaken.”
Trading momentum and sentiment
Trading volume remains steady, suggesting consistent interest from retail participants. The breakout from the descending channel in late June continues to provide bullish structure, with ADA forming higher lows since mid-July.
Market observers point out that ADA’s current momentum mirrors broader crypto sentiment, with investors closely tracking Bitcoin’s ability to sustain above its own support levels.
For now, Cardano remains in a neutral-to-bullish phase, consolidating ahead of a possible breakout attempt. A daily close above $0.90 would likely strengthen buyer conviction and open the way for a retest of $1.00. Failure to do so could keep ADA rangebound between $0.80 and $0.90 in the short term.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.