$ADA defends critical $0.62 support level with potential upside targets at $0.66 and $0.71 if bullish momentum continues.
Cardano (ADA) has successfully held a crucial support zone around $0.62, sparking optimism among traders for a potential price recovery. The cryptocurrency recently tested this demand area and bounced, keeping the bullish scenario alive. As long as this support holds, ADA could be positioning itself for a climb toward $0.71 in the near term.
๐Current Price Action
Cardano recently tested a strong demand zone near $0.62, which has been acting as a solid floor preventing further declines. Crypto analyst Mehmet GฤฐZฤฐK points out that the bullish outlook stays valid as long as ADA maintains this level. However, if the price drops below this support, the current positive scenario would no longer hold.
If buying pressure continues, ADA could gradually move toward two important resistance points: $0.6642 as the first hurdle that might trigger a breakout if buyers keep pushing, and $0.7109 as the main upside target where some traders might take profits. The expected path suggests ADA may consolidate briefly before attempting to push higher, with the overall direction pointing toward recovery.
๐Market Environment
Cardano's strength comes at a time when altcoins are finding stability after recent market swings. The broader crypto market sentiment has turned more positive, and long-term staking activity continues to draw participation, showing confidence among ADA holders. Ongoing development within Cardano's ecosystem also adds to the positive outlook.
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