Usman Salis
⬤ Cardano (ADA) is stuck in a messy consolidation phase right now, giving traders little to work with in terms of clear direction. Price action around current levels shows ADA moving sideways in a tight range after its recent pullback. There's no strong momentum pushing either way at the moment, which makes reading the next move tricky.
⬤ If ADA can push above $0.374 and hold it, that would support the idea that a larger corrective wave is still unfolding. Key resistance zones sit just overhead—around $0.385, $0.395, and $0.409 based on Fibonacci levels. A clean break through this area would suggest the correction is stretching higher, keeping the broader scenario intact where the market is still working through a B-wave bounce.
⬤ On the flip side, a drop below the weekly low at $0.346 would flip the script and point to more downside ahead. The next level to watch in that case would be around $0.329. If that happens, it opens the door for the larger A-wave to extend lower instead. Until we see a decisive move one way or the other, traders are left waiting for confirmation.
⬤ This matters because how ADA resolves this tight range could set the tone for near-term price action across altcoins. A breakout or breakdown from these levels—$0.374 up or $0.346 down—will likely shape sentiment around Cardano and influence where traders position themselves next. For now, all eyes are on those two levels as the market waits for clarity.
Usman Salis
