Cardano (ADA) is holding steady after a sharp decline, and market watchers are tracking a falling wedge pattern that's taking shape on shorter timeframes. This setup typically hints at a possible upward reversal, provided bulls can push past some critical price barriers.
Falling Wedge Hints at Reversal
The 4-hour chart reveals ADA squeezed into a tightening wedge, where both peaks and troughs are gradually converging. Crypto trader Sssebi pointed out that reclaiming $0.70 with several consecutive closes above it would be key to confirming any bullish momentum.

This kind of price compression usually means sellers are losing steam, and a breakout could follow once buyers step in with enough force.
Key Levels: Support at $0.65, Resistance at $0.70
Right now, $0.70 is acting as the main roadblock, capping attempts to move higher. If ADA breaks through, the next stops would be around $0.75 and $0.80. On the flip side, there's cushioning near $0.65 and $0.62, though a deeper slide might test $0.50. Volume has been fairly quiet while this wedge develops, but a surge in activity would add weight to the breakout thesis. The RSI sits in the middle zone, leaving room for price to pick a direction once momentum builds.
Broader Picture and What's Next
Cardano's near-term path is still linked to overall crypto market swings, shaped by macro concerns and shifting risk appetite. That said, the network's expanding DeFi scene and ongoing ecosystem upgrades offer a solid foundation for longer-term value. If the wedge resolves upward, ADA could make a run toward $0.80. But if $0.70 proves too tough to crack, the coin might stay range-bound, with downside risks still lurking.