Peter Smith
Cardano is sitting at a crossroads right now. After getting hammered over the past few days, ADA has found some stability around $0.82, but the real test is coming.
What the Chart Shows
Trader Sssebi recently flagged $0.85 as the line in the sand - break above it and we could see a quick move to $0.90, but get rejected there and things could get ugly fast.
The 4-hour setup is pretty clear cut:
- Current Spot: ADA's trading at $0.819, bouncing slightly from the $0.78 low
- The Big Test: $0.85 resistance has been like a brick wall, shutting down every recovery attempt so far
- Safety Net: The $0.78-$0.80 area is where buyers keep showing up to defend the downside
- Momentum Shift: RSI is climbing out of oversold territory, suggesting the selling pressure might be fading
- Volume Story: Heavy selling volume marked the recent crash, but we're starting to see some buying interest as things stabilize
What's Moving the Price
Broader altcoin weakness has been dragging ADA down with everything else. While Cardano's long-term story around DeFi growth and network upgrades stays intact, right now it's all about the technicals. The $0.85 level has become ground zero for this battle between buyers and sellers.
Here's what could go wrong. If ADA can't punch through $0.85, we might see another wave of selling that could push it back to $0.78 or even lower toward the $0.75-$0.72 zone. And if Bitcoin or Ethereum start tanking, ADA will probably get dragged down regardless of how its own chart looks.
Peter Smith
