$ADA in Tight Range – Breakout Ahead or Another Fakeout?
Cardano (ADA) is hovering around $0.6283, up +2.21% on the day. The chart shows clear consolidation with repeated rejection from near-term resistance and support holding firm. A breakout is brewing—watch closely.
Key Levels to Watch:
• Resistance: $0.6315 – Break above could trigger bullish momentum.
• Support: $0.6260 – Breakdown may invite intraday selling.
Bullish Breakout Setup:
• Entry: Above $0.6315
• Target 1: $0.6370
• Target 2: $0.6450
Bearish Breakdown Play:
• Entry: Below $0.6260
• Target 1: $0.6190
• Target 2: $0.6100
Volume remains moderate, indicating traders are waiting for confirmation. This is a classic squeeze zone—momentum traders should prepare for sharp movement once either level gives way.
