Cardano (ADA) has recently come into the spotlight due to increased trading volume and technical events. Currently, ADA is positioned at $0.738 (±3%) on the Binance platform, and signs of support forming between $0.75–$0.77 are visible.
Market analysis
🔺 Bullish scenario
ADA has broken the MA at the $0.75–$0.77 level, creating a strong support line, and a potential breakout has initiated.
Some analysts see it as a double-bottom pattern, indicating a potential rebound towards $0.80–$1.00.
🔻 Contrasting direction
Technical analysis shows resistance in the $0.745–$0.75 zone, and if ADA falls below $0.71–$0.70, the new support levels could be $0.68, $0.65, or down to $0.61–$0.60.
Cardano ecosystem update:
Binance has recently placed special attention on ADA. The ADA community is generating a remarkable momentum, leading to increased interest from developers and institutional investors. Posts like 'target up to $1.50' and prediction of '$1.20–1.32' have been shared on Binance Square, indicating long-term potential.
Investment point:
Current price Support Resistance Potential trend
$0.738 $0.71–$0.72, $0.68 $0.75, $0.80–$1.00 staying above $0.75 → bullish; breaking $0.71–$0.70 → controlling decline.
Conclusion:
Currently, ADA is finding support at the $0.75–$0.77 level and is holding a strong position. If the market holds and stays above $0.75, a breakout towards $0.80–$1.00 could occur. However, if it breaks below, there is a possibility of a drop towards $0.68–$0.65. Therefore, it is crucial for traders to set stop-loss and target levels.
Call to action:
Let us know in the comments: Do you see $0.75 holding, or do you think it could dip below $0.71?
Like and share if you think ADA is crossing an important threshold.
