- Cardano (ADA) is holding above the $0.60035 support, showing signs of stability after recent selling pressure
- A break above the 9 EMA and 20 SMA near $0.63 could trigger short-term bullish momentum
- The potential triple bottom pattern around $0.60 may signal a reversal if volume starts to support the move
- Resistance levels at $0.65755 and $0.70794 are key targets if ADA clears the $0.66 zone
Cardano (ADA) is showing signs of resilience despite recent downward pressure, trading at $0.6118. After retesting a strong support level near $0.60035, ADA has managed to hold above this zone, suggesting the possibility of a bullish reversal if momentum builds in the coming sessions.
Cardano Holds Support, Watch for $0.66 Breakout
The current price action sits just below the 9-period EMA, which is at $0.62680. A breakout above this short-term resistance could trigger renewed interest from buyers, especially if the price can reclaim the 20-period SMA at $0.63163. Reclaiming this moving average zone often signals a shift in sentiment from bearish to neutral, and eventually to bullish.
What’s more encouraging is that the broader support structure remains intact. ADA has respected the $0.60 level multiple times, forming a potential triple bottom pattern. This setup is often seen as a bullish signal, especially when accompanied by decreasing selling volume and signs of buyer accumulation.
The longer-term resistance levels at $0.65755, $0.66020, and $0.70794 may serve as the next upside targets. If ADA breaks through the $0.66 zone, the move could accelerate toward the 200-period SMA, currently at $0.70794, which would be a major technical milestone and a likely magnet for price.
Bitcoin, Ethereum Stability Could Boost ADA
Additionally, the broader market sentiment across crypto has started to shift from fear to cautious optimism. If Bitcoin and Ethereum continue to stabilize or climb, Cardano could benefit from sector-wide bullish momentum, helping push it above key resistance levels.
In the short term, a 4-hour close above $0.63 would be the first confirmation of a potential trend change. Traders and investors should watch for increasing volume on upward moves and shrinking volume on pullbacks, as those would support the bullish case.
Cardano’s ability to hold a strong multi-week support base while resisting further breakdown makes it a coin to watch closely. If buying volume increases and momentum shifts, ADA could soon begin forming a more sustainable uptrend in the days ahead.
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