$ADA /USDT: Cardano Reclaims $1.0960 (+1.07%) – Eyeing Resistance at $1.1162
Cardano ($ADA) is trading at $1.0960, up +1.07%, showing renewed bullish momentum after bouncing off its low at $1.0575. The token is moving steadily within its recent range, positioning itself for a potential breakout.
Key Levels to Watch:
Resistance: $1.1162 – A breakout here could set the stage for a rally toward $1.12 and beyond.
Support: $1.0724 – Holding above this level is crucial to maintain the bullish structure.
Market Observations:
$ADA is forming higher lows after rebounding from $1.0521, indicating growing buying interest.
Consolidation between $1.0724 and $1.1162 suggests traders are awaiting a decisive move.
Potential Scenarios:
Bullish Breakout: A push above $1.1162 could see ADA targeting $1.12 and potentially $1.15 if momentum persists.
Bearish Retest: A drop below $1.0724 may lead to a deeper correction toward $1.0575 or lower.
Traders should monitor volume and momentum closely at these critical levels. Will $ADA maintain its bullish trajectory, or is consolidation likely to continue?
