Usman Salis
⬤ Cardano's ADA is sitting at a technical crossroads after weeks of weakness. Currently trading near $0.58, the cryptocurrency faces a simple but crucial test: hold $0.50 as support, or risk a deeper drop. The chart lays out two paths—either a bounce back toward $0.70 if buyers defend the floor, or renewed downside if that level cracks. It's a make-or-break moment for ADA's near-term outlook.
⬤ The crypto market isn't helping matters. Proposed tax changes are hanging over the industry, raising fears about smaller firms going under and talent leaving for friendlier jurisdictions. That kind of macro uncertainty makes technical levels like $0.50 even more important—when sentiment is fragile, support zones can break fast if the broader backdrop turns uglier.
⬤ For now, all eyes are on whether ADA can hold the line. If $0.50 stays intact, there's a reasonable shot at climbing back toward $0.70. But if it breaks, expect a slide toward earlier lows. The next few days could decide whether Cardano keeps its recovery setup alive or slides back into selling pressure.
Usman Salis
