Key Insights
- •ADA enters the $0.35–$0.38 zone, a level known for strong historical bounce reactions.
- •Bearish momentum slows as MACD flattens; a crossover could trigger a price reversal.
- •If buyers defend support, ADA could revisit resistance levels near $0.79 and $0.99.
Cardano (ADA) has dropped to around $0.4053, following a sharp pullback of over 12% in the past 24 hours and more than 20% in the last week. The price has returned to the $0.35–$0.38 area—a zone that has often acted as a turning point in the past. This level has served both as resistance and support across different market phases.
A closer look at the chart shows that this drop may have completed a corrective structure, with the current zone sitting near the lower end of a long-term pattern. Mr. Brownstone noted that the price recently “filled the wick,” and added that the $0.35–$0.38 area “is looking good for a bounce,” though he cautioned that the next move will offer clues about whether this is a real bottom.
Momentum Signals a Possible Shift
The MACD indicator on the daily chart shows heavy downside pressure. Both MACD lines are well below the baseline, but the pattern suggests that momentum may be stretched. A crossover could signal that selling is slowing and buyers may return.
However, this level also aligns with a long-term ascending support trendline. A bounce from here would keep that structure intact. If the price starts to push higher, the next resistance areas around $0.55 and $0.70 could come into play.
Liquidity Grab Near $0.40 Sparks Reversal Talk
Another chart shared by BullishBanter shows ADA dipping into a key liquidity zone near $0.40. This area has drawn strong reactions before, and the recent move swept sell-side liquidity before stabilizing. The post suggested: “This could be the final sweep before a reversal.” The price path points toward $0.79–$0.99 if demand builds again.
The market structure appears to have shifted, with a lower low followed by potential stabilization. If buyers step in, the chart supports the case for a short-term bounce or a broader recovery attempt.
$0.30 Seen as Last Line of Support
If the current level fails to hold, ADA may test the next major support near $0.30.
Analyst Ali posted:
$0.30 is where Cardano $ADA could find support.
This level has triggered rebounds in past months and is viewed as a possible base if further selling occurs.
Until then, how the price reacts between $0.35 and $0.38 will likely set the tone for ADA’s next move.