🚨 Cardano (ADA) ALERT: Will ADA Plunge Below $1 or Bounce Back Stronger? 🚨

Cardano’s (ADA) price hovers above the $1 psychological level, but bearish momentum could threaten a breakdown. With resistance holding firm and market sentiment shaky, traders are watching closely for ADA’s next big move.

Cardano Price Analysis: A Pullback Underway

Current Price: $1.16 (down 1.67% in 4 hours).Recent High: $1.32, failing to surpass the critical $1.35 resistance.Support Tested: The broken trendline is holding, but bearish signs are growing.

The 4-hour chart shows an ascending triangle breakout, but bearish pressure has created an evening star pattern, increasing the likelihood of a pullback to $1.06 or even lower levels.

Key Technical Indicators:

MACD: A bearish crossover indicates rising selling pressure and potential further downside.Resistance Zones:Immediate: $1.35Extended Target: $1.5450 (if bullish momentum resumes).Support Levels:$1.06$0.96 (critical for preventing a further collapse).

Market Sentiment and Risks

The overall market faces headwinds as Bitcoin struggles below the $100,000 mark, impacting altcoin momentum. A bearish continuation could see ADA testing lower supports at $0.96 and $0.80, breaking the $1 level.

What’s Next for ADA?

Bearish Scenario: A drop below $1.06 could accelerate selling, targeting $0.96 and $0.80.Bullish Reversal: A bounce from the broken trendline could test the $1.35 supply zone, with a potential push toward $1.5450.

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