Cardano ($ADA ) is currently navigating a period of correction, with its price struggling to break the $1 mark. While the broader market trend suggests a potential climb towards new all-time highs (ATH), technical analysis indicates a pullback to around $0.43 before the next major upward movement. As the price faces resistance, ADA enters a cooling phase that could pave the way for a stronger rally in the weeks ahead.

𝐊𝐞𝐲 𝐓𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐋𝐞𝐯𝐞𝐥𝐬 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐁𝐞𝐡𝐚𝐯𝐢𝐨𝐫🚨

In recent weeks, Cardano has encountered resistance near the $1.20 level, a key price point formed after a significant 205% surge from $0.43 in late October to a high of $1.32 in late November. As ADA hit an overbought zone on the Relative Strength Index (RSI) at 82.87, the token experienced a retracement, entering a corrective phase where buying pressure has begun to consolidate. Despite this short-term cooling off, the long-term outlook for ADA remains positive, provided it holds critical support levels.

𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐋𝐞𝐯𝐞𝐥𝐬 𝐚𝐧𝐝 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐃𝐨𝐰𝐧𝐭𝐮𝐫𝐧 𝐑𝐢𝐬𝐤𝐬🔥

While the overall market sentiment is bullish, ADA could experience a deeper correction in the short term. If the price falls further, the next important support level is at $0.7683, followed by the critical $0.43 threshold. Failure to maintain above $0.43 could lead to a more significant decline, with $0.3166 and $0.2427 acting as the next major support zones. However, the likelihood of Cardano’s price falling below the lows from the last bear market remains low, suggesting a strong foundation for a recovery in the near future.

𝐋𝐨𝐧𝐠-𝐓𝐞𝐫𝐦 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐍𝐞𝐰 𝐀𝐓𝐇 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥🚀

Currently trading at $0.912, ADA has shown resilience, with a 2% increase in the past 24 hours. If Cardano can break through the $1.20 resistance level, it could set its sights on testing the previous all-time high of $3.09 and potentially reaching new heights. As the market continues to correct, ADA’s long-term growth potential remains intact, driven by strong community support and positive buying trends.

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