Usman Salis
Cardano's price is sitting at a pivotal moment right now, testing strong support after the recent crypto market turbulence. Traders are watching closely to see if bulls can push back above the weekly open at $0.65, which could spark a rally toward $0.73.
ADA Holds Firm Above Critical Fibonacci Zone
A technical chart from Carl Moon shows that ADA's structure still looks healthy, with the $0.62–$0.63 area providing a solid floor for potential upside. The 1-hour ADA/USDT chart shows Cardano trading around $0.633, staying above the golden pocket—a key Fibonacci zone between 0.618 and 0.786, roughly $0.612 to $0.627. This area has historically been a strong reversal point where buyers tend to step in aggressively.
Key levels to watch:
- Golden Pocket Support: $0.612–$0.627 — historically strong demand zone
- Weekly Open (wOPEN): $0.6527 — breaking above this signals renewed bullish strength
- Previous Week High (pwHIGH): $0.7360 — next major resistance for bulls
The range point of control and volume profile are holding steady, showing that traders are accumulating rather than selling off at these levels.
What Happens Next for Cardano?
The chart suggests a potential bounce scenario, with a projected path higher if ADA reclaims the weekly open. The first target would be around $0.68, followed by the $0.73 resistance—a level that lines up with last week's high. However, if bulls can't break $0.65, ADA could stay stuck in consolidation mode for now. The $0.61–$0.63 zone is critical—losing it would likely push the price down to retest $0.59, where another Fibonacci level sits.
Even with the broader market showing indecision, Cardano is holding up better than many other altcoins. The highest trading volume in this range is around $0.63, which reinforces this as a stable demand area. Traders remain cautiously optimistic since ADA hasn't broken any major technical structures. Beyond the charts, Cardano's DeFi ecosystem and staking activity continue to strengthen, giving the price some fundamental support. This mix of technical resilience and growing fundamentals makes ADA worth watching closely in this cycle.
Immediate Support: $0.62 (Golden Pocket & Range POC) Resistance to Break: $0.65 (Weekly Open) Bullish Target: $0.73 (Previous Week High) Invalidation Zone: Below $0.59 (Fibonacci 1.0 level)
A confirmed push above $0.65 with solid volume could flip sentiment decisively bullish and confirm a short-term trend reversal.
Usman Salis
