Cardano (ADA) Eyes Higher Levels Amid Bullish Momentum
Cardano’s ADA has surged over 5% in the past 24 hours, now trading above $1.20 at the time of writing. Despite retracing some recent gains, ADA bulls seem poised to push the price higher.
Support and Resistance Levels
On the daily chart, the key support zone lies between $0.644 and $0.94, aligned with Fibonacci retracement levels. This zone is critical for maintaining the uptrend. If ADA dips below $0.644, it could mark the end of the current bullish momentum.
Conversely, the next potential price surge targets range from $1.72 to $2.95, provided the uptrend continues. A higher low followed by a higher high would confirm this bullish trajectory.
Micro Support Zones
In shorter time frames, the micro support zone between $1.11 and $1.21 plays a crucial role. Holding above $1.11 keeps hopes for an upside breakout alive. A fall below this level could trigger short-term bearish action, but the overall uptrend remains intact as long as ADA stays above $0.644.
Key Levels to Monitor
- $1.11: The pivotal micro support level.
- $1.24: Breaking this resistance could ignite a fresh rally.
- $1.32–$1.33: Breaching this range would signal further bullish confirmation.
- $1.49+: The next significant target for ADA if the uptrend strengthens.
What’s Next for ADA?
If ADA sustains above $1.11, a breakout toward higher targets is possible. Traders should look for clear breakout signals before focusing on smaller time frame actions. However, a breach below $1.11 might weaken the bullish case, emphasizing the importance of these critical levels for the coming days.
Stay tuned for updates as ADA navigates its next move!
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This is no financial advice. Includes third party opinion.