Cardano ($ADA ) continues to trade below the $1 mark, showing resilience despite bearish pressure. Currently priced at $0.8595, ADA has seen a 1.5% rise in the last 24 hours, but critical support levels remain under threat.

🚨 Key Highlights:

  • Major Support Zones:

$0.8366–$0.6683: 223,070 wallets hold 1.97 billion ADA.

$0.68–$0.77: A historical demand wall, often supporting bullish recoveries.

  • Bearish Risk: A breach of $0.5973–$0.7556 could trigger a 46% drop to $0.46, where 432,150 wallets previously acquired 3.5 billion ADA.

📈 Bullish Indicators:

  • Whale activity surges: Over 20 million ADA purchased in two days, reflecting growing investor confidence.

  • Technical signals: The MACD indicator hints at a potential bullish shift as the momentum builds near resistance at $0.87.

Source: X

🔍 Analysis:

While ADA has managed a slight recovery, breaking resistance at $0.87 could pave the way for stronger price action. However, stability above $0.84 is crucial to maintain bullish momentum. Increased trading activity, now at $917 million, indicates strong market interest, suggesting a possible price breakout soon.

📌 Key Levels to Watch:

  • Resistance: $0.87

  • Immediate Support: $0.84

  • Critical Demand Zone: $0.5973–$0.7556

💡 Conclusion:

Cardano's price movements hinge on maintaining critical support levels, with bullish potential fueled by whale accumulation and high trading volume. Traders should keep a close eye on $0.87 for signs of a breakout or $0.68 for potential buy opportunities.

📢 What’s Your Take on ADA? Will It Rebound or Slip Further? Share your thoughts below!

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