Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Cardano’s price is caught in a tight range, holding above key support while facing resistanceoverhead. With momentum weakening, will ADA break higher or slide back toward lower levels in its next decisive move? Bearish AB=CD Pattern Completed With Rejection At $0.95
Alpha Crypto Signal, a crypto analyst on X, recently sharedinsights on Cardano’s price action, noting that ADA has just completed a bearish AB=CD pattern on the daily timeframe. The rejection around the $0.95 level confirms this setup, suggesting that the market may be preparing for a corrective move. Such harmonic patterns often signal exhaustion in the preceding trend, hinting that ADA could face additional downward pressure in the short term. Related Reading Cardano (ADA) Pulls Back, Will Bears Push It Lower Again? 2 days ago
Currently, Cardano is trading below the 9-day EMA at $0.88, indicating that momentum has weakened following its recent attempts to push higher. Trading beneath this moving average often reflects a bearish shift in sentiment, where buyers struggle to maintain control. ADA forms key pattern | Source: Alpha Crypto Signal on X
The analysthighlighted a critical support zone between $0.74 and $0.77, which will likely act as the first line of defense for bulls. Should this area give way, ADA could extend its decline toward the $0.70–$0.68 range, marking a deeper retracement and potentially testing the patience of long-term holders.
Still, the outlook is not entirely bearish. According to the analysis, bullscould regain momentum if ADA manages to reclaim the $0.90 level and establish support above it. A successful recovery beyond this threshold would weaken the bearish narrative and possibly set the stage for another upward push. Cardano Holds Key Level After Pullback
CryptoPulse, another market analyst, noted in an X updatethat Cardano is currently holding above a key support level following a pullback. This resilience suggests that buyers are still defending critical price zones despite recent bearish pressure.
Related Reading: Cardano Defies Market Pullback: Could On-Chain Momentum Signal a 70% Run Ahead?
According to the analyst, as long as the price maintains this support just above $0.80, ADAhas the potential to rebound toward the $1.06 region, which aligns with the 0.382 Fibonacci retracement level. A move in this direction would indicate that momentum is shifting back in favor of the bulls.
However, CryptoPulse cautioned that if support fails and ADA breaks lower, a backtest could occur, raising the risk of the price revisiting its range lows. Such a move would reinforce bearish sentiment and potentially delay any significant recoveryattempts.
In the meantime, the levels are clearly defined, leaving the market to decide its next direction. Whether ADA manages to build on its current support and push higher, or slips back into deeper corrective territory, will depend on how traders respond around these pivotal zones. ADA trading at $0.84 on the 1D chart | Source: ADAUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com