Market Context:
Cardano ($ADA) has been consolidating after a recent pullback, as the market awaits clarity on its next direction. Strong fundamentals and continued ecosystem growth provide long-term support, but in the short term, technical levels remain crucial.
Current Price Action:
ADA is trading around $0.45, holding just above key support at $0.44. The $0.48 level is acting as a strong resistance, preventing ADA from pushing higher. Momentum indicators remain neutral, with RSI suggesting neither overbought nor oversold conditions.
Bullish Scenario:
If ADA manages to break above $0.48, it could rally toward $0.52 and $0.55. A sustained move above $0.55 could trigger a stronger bullish wave, possibly extending toward $0.60.
Bearish Scenario:
However, failure to hold $0.44 could drag ADA back toward $0.42. A breakdown below $0.42 would weaken the structure and may invite further selling toward $0.40.
Outlook:
Cardano needs a clear breakout above $0.48 to confirm bullish momentum. Until then, ADA is likely to remain range-bound between $0.44–$0.48
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