Peter Smith
Cardano (ADA), one of the leading altcoins in the crypto market, is showing signs of a potential rebound after a sustained downtrend. A widely followed market analyst — referred to here as a famous trader — has highlighted a key accumulation zone that could offer a high-probability entry for short-term traders.
ADA is currently trading around $0.570, and is forming a bullish structure inside what the trader labeled a “Golden Box” — a price range considered ideal for re-entry.
ADA (Cardano) Enters Strategic Support Zone
The chart marks the zone between $0.560 and $0.580 as a potential reversal area, supported by volume profile levels and prior demand. The famous trader notes that ADA’s price has tested the -2 support level and is now positioning for a move toward $0.660 and possibly higher.
This setup also aligns with ADA’s interaction with dynamic indicators such as the EMA and visible resistance zones, suggesting that if bulls regain momentum, a short-term breakout could unfold quickly.
Strong Risk-to-Reward Setup
The trade idea is centered on a favorable risk-to-reward ratio, as the chart highlights a compact stop-loss zone just below the “golden box” and a potential upside target above $0.660, toward the -1 level on the volume profile. ADA has already shown historical responsiveness to these zones, making this setup technically compelling for active traders.
The current candle also displays early signs of bullish strength, which, if confirmed over the next sessions, may attract momentum buyers looking for short-term gains.
Conclusion
As Cardano (ADA) consolidates at a pivotal price level, eyes are on this “Golden Box” zone to act as a launchpad. With price hovering around $0.570 and momentum signals aligning, this could be a key moment to watch. As always, traders should manage risk carefully, but if this setup plays out, ADA could be in for a quick climb toward $0.660 and beyond.
Peter Smith
