Saad Ullah
Cardano has been putting up a solid defense at the $0.84 level, and honestly, it's looking pretty impressive. This isn't just any random support line - we're talking about a zone packed with technical confluences that actually mean something. The 0.618 Fibonacci retracement is sitting right here, the 55 EMA is doing its job as dynamic support, and the whole higher-low structure is still intact.
What's really catching traders' attention is how ADA keeps bouncing off this level with decent volume backing it up. It's like the market is saying "nope, we're not going lower" every time selling pressure tries to push through. That's usually a good sign when you're looking for continuation patterns.
ADA Technical Setup: The $0.84 Foundation Holds Firm
The technical picture for ADA is actually quite straightforward. That $0.84 zone isn't just support - it's become the foundation for this entire bullish structure. You've got multiple timeframes converging here, which doesn't happen by accident. When the 55 EMA lines up with a key Fibonacci level and your higher-low projections, that's when smart money starts paying attention.
What's keeping traders optimistic is that ADA hasn't broken its pattern of higher highs and higher lows. As long as $0.84 stays untouched, the broader uptrend remains alive and well. It's textbook stuff really - buyers step in at key levels, sellers get exhausted, and price finds its footing for the next leg up.
The timing is interesting too, especially with regulators dragging their feet on that ADA ETF decision. But here's the thing - the chart doesn't care about regulatory drama when the technicals are this clean.
ADA Price Target: Can $1.19 Resistance Finally Break?
Now here's where it gets interesting. If ADA can maintain this $0.84 support with proper volume backing, $1.19 is absolutely in play. That's not just wishful thinking - it's where the math points when you project from current support levels.
The path to $1.19 isn't guaranteed though. We need to see sustained buying pressure, not just quick bounces off support. Volume has been decent at the $0.84 level, but any serious move toward resistance will need even stronger participation. Without that volume confirmation, ADA could end up stuck in this range for longer than bulls would like.
Breaking $1.19 would be a big deal for Cardano. It would confirm that this isn't just another fake-out and could open the door for even higher targets. But let's be real - resistance levels exist for a reason, and $1.19 has held ADA back before.
Saad Ullah
