ADA forms bullish RSI divergence near $0.55–$0.60, signaling a possible trend reversal.
Analysts eye breakout above $0.80–$1.00 to confirm the end of Cardano's long-term downtrend.
Sentiment hits 30-day high as ADA targets $1.35, $2.00, and $3.20, backed by Elliott Wave analysis.
Cardano (ADA) is currently trading at $0.5766, holding firmly near the key demand zone between $0.55 and $0.60. The asset continues to respect a well-defined descending channel that started in early 2024. Analysts are now monitoring a potential breakout as momentum begins to shift.
Bullish Divergence and Demand Zone Support a Reversal Setup
According to analysis prepared by Bitcoinsensus, Cardano has consistently moved within a descending channel pattern since the start of the year. The weekly chart shows ADA rebounding from the lower trendline, which aligns closely with a historically strong demand zone.
https://twitter.com/Bitcoinsensus/status/1941218973942497284
This zone is seen as a key area for accumulation. The same chart also reveals a bullish divergence forming on momentum indicators such as the RSI. While price continues to print lower lows, indicators are now forming higher lows.
This divergence often signals a weakening bearish trend and a possible upcoming reversal. A breakout above the descending resistance, currently positioned between $0.80 and $1.00, would signal the end of this long-term trend.
Sentiment and Structure Strengthen the Bullish Case
According to data shared by TapTools, Cardano's community sentiment has surged to a 30-day high. With 93.8% of voters on CoinMarketCap now expressing a bullish outlook, optimism is building around ADA’s near-term direction.
This sentiment improvement is happening despite price trading within a tight range. XForceGlobal also shared a refined Elliott Wave count that suggests ADA may be starting a new bullish phase.
Their chart places key upside targets at $1.35, $2.00, and $3.20. Meanwhile, the asset has cleared the $0.58 resistance and is testing the next zone at $0.6174. Analysts believe a breakout with strong volume could trigger further gains.
The post Cardano Respects Key Demand Zone as Bullish Divergence Forms, Analysts Watch $0.80 Breakout Zone Closely appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
