Cardano Price Squeezed Between Support And Resistance – Market Awaits Next Leg

Source Newsbtc

Cardano’s price is caught in a tight range, holding above key support while facing resistance overhead. With momentum weakening, will ADA break higher or slide back toward lower levels in its next decisive move?

Bearish AB=CD Pattern Completed With Rejection At $0.95

Alpha Crypto Signal, a crypto analyst on X, recently shared insights on Cardano’s price action, noting that ADA has just completed a bearish AB=CD pattern on the daily timeframe. The rejection around the $0.95 level confirms this setup, suggesting that the market may be preparing for a corrective move. Such harmonic patterns often signal exhaustion in the preceding trend, hinting that ADA could face additional downward pressure in the short term.

Currently, Cardano is trading below the 9-day EMA at $0.88, indicating that momentum has weakened following its recent attempts to push higher. Trading beneath this moving average often reflects a bearish shift in sentiment, where buyers struggle to maintain control. 

Cardano

The analyst highlighted a critical support zone between $0.74 and $0.77, which will likely act as the first line of defense for bulls. Should this area give way, ADA could extend its decline toward the $0.70–$0.68 range, marking a deeper retracement and potentially testing the patience of long-term holders. 

Still, the outlook is not entirely bearish. According to the analysis, bulls could regain momentum if ADA manages to reclaim the $0.90 level and establish support above it. A successful recovery beyond this threshold would weaken the bearish narrative and possibly set the stage for another upward push.

Cardano Holds Key Level After Pullback

CryptoPulse, another market analyst, noted in an X update that Cardano is currently holding above a key support level following a pullback. This resilience suggests that buyers are still defending critical price zones despite recent bearish pressure.

Related Reading: Cardano Defies Market Pullback: Could On-Chain Momentum Signal a 70% Run Ahead?

According to the analyst, as long as the price maintains this support just above $0.80, ADA has the potential to rebound toward the $1.06 region, which aligns with the 0.382 Fibonacci retracement level. A move in this direction would indicate that momentum is shifting back in favor of the bulls.

However, CryptoPulse cautioned that if support fails and ADA breaks lower, a backtest could occur, raising the risk of the price revisiting its range lows. Such a move would reinforce bearish sentiment and potentially delay any significant recovery attempts.

In the meantime, the levels are clearly defined, leaving the market to decide its next direction. Whether ADA manages to build on its current support and push higher, or slips back into deeper corrective territory, will depend on how traders respond around these pivotal zones.

Cardano
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold price holds above $3,200; bullish bias remains amid trade uncertaintyGold price (XAU/USD) attracts some dip-buyers following the previous day's modest pullback from the record high and trades comfortably above the $3,200 mark during the Asian session on Tuesday.
Author  FXStreet
4 Month 15 Day Tue
Gold price (XAU/USD) attracts some dip-buyers following the previous day's modest pullback from the record high and trades comfortably above the $3,200 mark during the Asian session on Tuesday.
placeholder
Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRPRipple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
Author  NewsBTC
7 Month 14 Day Mon
Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
placeholder
Ethereum Price Momentum Explodes—Is the Path to $4K Wide Open?Ethereum price started a fresh increase above the $3,750 zone. ETH is now showing bullish signs and might continue to rise toward the $3,950 zone. Ethereum started a fresh increase above the $3,750
Author  NewsBTC
7 Month 22 Day Tue
Ethereum price started a fresh increase above the $3,750 zone. ETH is now showing bullish signs and might continue to rise toward the $3,950 zone. Ethereum started a fresh increase above the $3,750
placeholder
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
Author  Mitrade
8 Month 19 Day Tue
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
placeholder
Bitcoin Dips to Two-Week Low Around $113K Ahead of Fed Jackson Hole EventBitcoin continued its downward trajectory on Wednesday, hitting a two-week low as investors trimmed their positions ahead of the Federal Reserve’s upcoming Jackson Hole symposium.
Author  Mitrade
8 Month 20 Day Wed
Bitcoin continued its downward trajectory on Wednesday, hitting a two-week low as investors trimmed their positions ahead of the Federal Reserve’s upcoming Jackson Hole symposium.
goTop
quote