Cardano Bulls defend the $0.61 support, but the bearish structure remains intact. What’s next for the ADA price rally?
Cardano has managed to find temporary support above the $0.60 mark, a level where buyers have consistently intervened to defend the price from further losses. However, despite this, the broader price structure remains bearish, and the ADA price continues to struggle below key resistance levels. Here’s a closer look at what the charts are indicating. The ADA price has repeatedly risen from $0.60 to $0.63 over the past several sessions, highlighting this as a critical support range. It appears that bullish participants are accumulating in these ranges, preventing the price from declining. The demand zone is reinforced by previous price actions and recent buying volume, representing it as a key level to watch moving forward. Despite the support zone, the overall trend remains bearish as the ADA price is unable to close above $0.74. Meanwhile, a range spike has led to a massive drop, making these levels essential for upward movement and safety. At the same time, the Supertrend has turned bearish, indicating that a downward trend could prevail for some time. On the other hand, the RSI has bounced off the lower threshold, and the ADA price seems poised to exceed $0.69 in the period$ADA