Peter Smith
Following a turbulent stretch in crypto markets, Cardano (ADA) just delivered a textbook bounce that's turning heads among traders.
Cardano's Recovery Mirrors the Forecast
The token jumped nearly 9% from a key demand zone, matching almost perfectly with a bullish scenario mapped out days earlier by Mehmet GİZİK. The precision of this move has reignited interest in ADA's potential for further gains.
ADA's recent climb from the $0.61-$0.62 support area has been remarkably precise. The trader who called this setup noted the recovery was "millimetrically aligned with the drawn path," validating both the technical framework and the strength of buying interest at those lower levels. From its base around $0.62, the token rallied toward $0.664, producing exactly the kind of measured move that technical analysts look for when confirming pattern validity.
Right now, ADA is hovering just below $0.665, testing whether this level can flip from resistance to support. If buyers defend this zone successfully, the next logical target sits at $0.71, with a clean break above that potentially opening the door toward $0.74. On the flip side, dropping below $0.64 would undermine the bullish case and could send price action back toward the lower demand zone, though current chart structure still favors the bulls.
The green demand zone between $0.61 and $0.62 has been acting as a reliable floor throughout the past week. Candlestick patterns in this area show long lower wicks, typically signaling accumulation as buyers step in to absorb selling pressure. The swift rise that followed, backed by stronger volume, suggests momentum has shifted decisively in favor of bulls. This kind of retracement-then-continuation pattern often precedes mid-term breakout moves.
Broader Market Context
Cardano's bounce comes as altcoins broadly recover from oversold territory, with sentiment improving across the board. ADA has benefited not only from technical support reactions but also from growing optimism around recent network upgrades and expanding DeFi activity on the Cardano ecosystem. While still range-bound in the medium term, the successful defense of the $0.61 area signals that confident buyers and potentially institutional players are actively protecting lower price levels, setting the stage for what could be a sustained move higher if resistance zones give way.
Peter Smith
