Saad Ullah
Cardano has been navigating a delicate balance between short-term pressure and long-term optimism. After months of establishing a solid upward trajectory, ADA now finds itself at a pivotal moment where key technical levels will determine whether the bullish momentum can continue or if further consolidation is needed.
ADA Price Tests Crucial Fib Level
ADA has been moving within an upward channel since early June, consistently hitting higher peaks and valleys. Even though there's been some pullback since mid-August, the overall bullish pattern is still holding up. Right now, ADA is trading around $0.833, just above the important .382 Fibonacci support at $0.8215.
Trader @quantum_ascend pointed out that ADA is at a critical junction where the recent downward pressure is meeting the longer-term upward trend. While there's some local volatility causing uncertainty, the bigger picture still looks favorable for buyers.
Current price: $0.833
Support levels:
- $0.8215 (.382 Fib)
- $0.7610 (.309 Fib)
- $0.7022 (.236 Fib)
Resistance levels:
- $0.9178 (.5 Fib)
- $1.0427 (.618 Fib)
- $1.1514 (.786 Fib)
Long-term target: $1.32 (Fib 1.0 extension)
The RSI is sitting in neutral territory, which means ADA could move in either direction. If buyers can keep the price above $0.82, the next challenge will be breaking through $0.91 and potentially pushing past the $1.00 psychological level.
ADA Price Outlook: Macro Picture Still Bullish
Even with recent weakness, ADA is still following its long-term upward channel, keeping the bullish outlook alive. The combination of Fibonacci support levels and the ascending trendline creates an attractive setup for those thinking long-term.
Cardano is sitting at another make-or-break moment. If ADA can stay above $0.82, the bullish channel stays intact, potentially opening up moves toward $1.00–$1.15.
Saad Ullah
