Cardano (ADA) Price Analysis: ADA Holds Key Support, Eyes $1.28 And Beyond
- ADA has bounced back above the critical $0.70 support level after briefly dipping below pre‑March highs.
- Price rose nearly 3% in the last 24 hours even as volume fell by 6%, suggesting selling pressure is easing.
- A breakout from a descending wedge pattern points to a shift from bearish correction to renewed bullish momentum.
- Key upside levels to watch are $1.28 (around 75% gain) and $1.49 (about 104% gain) if the rally continues.
Cardano (ADA) is demonstrating impressive strength above its crucial support level as the broader crypto market experiences a minor pullback. While Bitcoin tests lower territory around $91,700, ADA’s price action signals a transition from bearish correction to renewed bullish momentum.
ADA Support Level Holds Firm
After a steep correction that even saw the token dip below its pre‑March pump levels, Cardano has reclaimed its footing above the key $0.70 support zone. This level has historically acted as a solid foundation for ADA’s upward moves, making it a critical pivot point for buyers looking to enter the market.
In the last 24 hours, the token surged nearly 3%, even though trading volume fell by 6%. This divergence, rising price on decreasing volume, often suggests that selling pressure is waning and that strong hands are accumulating ADA. At $0.7292, the token now holds a market cap of $25.73 billion and a 24‑hour volume of $1.01 billion, highlighting healthy interest in the token.
ADA Breaks Descending Wedge, Eyes $1.28 Rally
Technical analysis on the daily chart reveals ADA has broken out of a descending wedge pattern, a classic reversal setup. This breakout confirms that sellers have exhausted, and buyers are regaining control. Holding above the wedge’s resistance line and the long‑term support zone reinforces the bullish thesis.
The first key level to watch is $1.2797, representing an approximate 75% gain from current prices. Hitting this mark would signal a strong rebound and underscore the token’s ability to bounce back in turbulent market conditions.
Beyond that, a second milestone of $1.4853 looms, equating to roughly a 104% increase. Achieving this higher target would further cement ADA’s resilience, demonstrating robust recovery potential even amid broader crypto volatility.
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