Cardano (ADA) Price Rebounds from Key Support: Can Bulls Sustain Momentum?

The crypto market has dropped more than 10% today. Cardano (ADA) stands out by showing strength and recovering from a critical support level.

The crypto market has dropped more than 10% today. It seems that Cardano (ADA) is showing some strength, managing to recover from a key support level.

This has crypto traders keeping a close eye on ADA price action, hoping to see if this initial recovery could mark a turning point. A look at the 15-minute chart shows that following a long bearish motion with a trend channel defined by lower highs and lows, the cryptocurrency has broken out of the established trend.

The reversal began when the price of ADA hit a key daily support level—a price at which investors have been interested for a long time. The cryptocurrency’s strong performance at this level has reignited hopes from investors, who are now anxiously waiting to see if Cardano will break through to further price levels.

Cardano Key Support and Resistance Levels

Technical analysis shows that ADA’s price has rebounded from a strong support level, which is an important price level where buyers have always stepped in. This also aligns with historical demand areas, further validating its significance.

On the upside, the next resistance is at $0.880 and $0.900, which is indicated as a potential target zone for continuation bullish. In case the ADA price maintains its momentum, the traders anticipate a push towards this level, filling a previous gap that was formed during the downtrend. However, failure to sustain buying pressure could lead to a retest of the breakout zone.

Crypto Traders React to ADA Bullish Signals

Market sentiment is shifting according to top analyst Crypto_Jobs, who pointed towards Cardano’s (ADA) breakout from its main downtrend on X. The analyst pointed to a price point of $0.880 to $0.900 as a potential target for a correction in the market, which would be a sign of further price appreciation.

The analysis points out a bullish divergence, a chart pattern in which the price of the asset makes lower lows, but important indicators such as the RSI make higher lows. Such a pattern generally suggests that purchasing momentum is being created, indicating that traders could witness a future trend reversal.

What’s Next for ADA Price?

Since Cardano’s price is rebounding while the overall market declines, buyers seek affirmation of continued strength. A retest of the breakout level for a pullback could occur before more upside if the breakout is maintained, a test back to the $0.880-$0.900 level remains a possibility.

The general crypto market downturn may still be causing issues, but the reality that ADA is staying firm above significant support means that bulls are in charge. Traders will be examining volume and momentum levels to determine whether this rally can turn into a more pronounced uptrend.