Cardano Price Analysis – Is $ADA Preparing for a Breakout?
Cardano is holding firm around $0.79, a level strengthened by the 0.618 Fibonacci retracement and the lower Bollinger Bands. This confluence makes the zone a key support where buyers continue to step in.
The market structure remains bullish, with $ADA printing a sequence of higher highs and higher lows since its last breakout. As long as this trend continues, the next significant resistance lies at $1.19. A push toward this target will require sustained volume inflows to keep momentum alive.
With the Grayscale ADA ETF decision approaching, ADA could attract renewed market attention. A successful defense of $0.79 may act as the launchpad for a move higher.
⚠️ This is not financial advice. Always do your own research before making investment decisions.
