Cardano ($ADA ) kicked off a rebound from around $0.6420, but that recovery is now hitting resistance — and the momentum looks like it’s fading.
Here’s my quick breakdown:
ADA bounced from $0.6426, climbed above $0.6550, and even broke past a short-term bearish trendline at $0.650.
It’s now facing a strong resistance zone at $0.6850, which aligns with the 50% Fib retracement level from the $0.7298 to $0.6426 drop.
Despite the bounce, ADA is still trading below $0.680 and under the 100-hour SMA — not a great look for sustained upside right now.
If bulls push past $0.6850, the next resistance comes in around $0.7090, and a close above that could open up a run toward $0.730 or even $0.750.
But if that resistance holds?
Here’s my downside watchlist:
Immediate support: $0.6630
Key support zones: $0.6500, then $0.6320
Deeper pullback support: $0.6175, where bulls might step back in
Indicators to note:
MACD is showing signs of weakening bullish momentum
RSI is still above 50, so there's room to dip without going oversold
My take: If ADA can’t break $0.6850 soon, I’ll be watching for another leg down. This could be a good short setup — or a fresh long if it finds support around $0.6500–$0.6175.
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What’s your play on ADA right now? Drop it in the comments.
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