Cardano price is trading near an important support area that could decide its next move. According to the analyst, ADA price could recover to around $0.56 if buyers defend current levels. If the support fails, the price could fall toward the $0.11-$0.17 range before recovering.
The analyst said the area between $0.11 and $0.17 is the strongest support for Cardano based on historical price action. ADA has traded around this range several times since 2022, making it an area where buyers could return if the price drops further.
The analyst added that this is a personal technical view and not a guaranteed outcome.
Based on the analyst’s indicator set, Cardano’s estimated “fair value” is around $0.56.
If ADA has already formed a bottom, the analyst expects the next major target to be this level. However, if selling pressure increases, the price could first retest the $0.11-$0.17 support zone.
Also Read : Cardano Activates Van Rossem Hard Fork, What next for ADA?
On the daily chart, the analyst said ADA has held support twice and is now trading near another important support level.
The next resistance is around $0.23. If buying momentum improves, ADA could move toward $0.32.
However, if the price fails to hold support and continues to weaken, the analyst expects another decline before any larger recovery begins.
The analyst believes Cardano can recover over the long term if the market improves.
The key price levels mentioned in the analysis are:
The analyst also highlighted higher technical targets above $7 but did not provide a timeline for reaching those levels.
Despite the bullish long-term outlook, the analyst said Cardano is still missing strong buying activity.
According to the analysis, weekly indicators do not yet show a significant increase in market demand, making sustained upward movement less certain until buying interest improves.
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