Cardano

bullish

Resistance

<p>Cardano (ADA) has <a href="https://coinpedia.org/news/why-is-the-crypto-market-down-today-9/" target="_blank" rel="noreferrer noopener">dipped below the crucial $1 level</a> and is down by more than seven percent in the last 24 hours. ADA had recently come across a major resistance at the golden pocket area, which is positioned between $1.12 and $1.23. This range has been a focal point on the weekly time frame, where Cardano is currently struggling to break through.&nbsp;</p>   
<p>The price action after the breakout above the 50% retracement level around $0.82 to $0.83 was expected to push toward this golden pocket, and we are now seeing that resistance play out. For a detailed <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" target="_blank" rel="noreferrer noopener">Cardano price prediction</a>, this level serves as a critical marker for potential market trends.</p>   
<p><a href="https://www.youtube.com/watch?v=wUs-XVNynPw" target="_blank" rel="noreferrer noopener nofollow">According to analyst Josh of Crypto World,</a> this golden pocket is a critical Fibonacci zone that typically marks strong resistance. Cardano’s rejection from this area is not unexpected, and it’s likely that the price will continue to face resistance here in the short term. However, if Cardano manages to break above this zone, the next target would be the 78.6% Fibonacci level, which is located around $0.76.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-short-term-price-action-and-support-levels"><strong>Short-Term Price Action and Support Levels</strong></h2>   
<p>In the short term, as expected, Cardano has faced a pullback after reaching its flag pole price target for the bullish continuation pattern. The price has started to correct. One of the key support levels which is currently acting as support is around $0.97. If the price dips below this, the next support level is found at the 50% retracement, around $0.94. Additionally, there’s a short-term golden pocket support zone between $0.88 and $0.90.</p>   
<p>If Cardano breaks below this golden pocket, the next support levels to monitor are at $0.84 and between $0.76 and $0.77. These areas are crucial as potential bounce zones, similar to the price action observed in the past few days.</p>   [post_titles_links postid="385406"]   
<h3 class="wp-block-heading" id="h-resistance-levels-to-watch"><strong>Resistance Levels to Watch</strong></h3>   
<p>On the upside, Cardano will likely face resistance around $1.15 to $1.17, with the strongest resistance still at the golden pocket zone on the weekly chart. This area remains the major hurdle for any bullish continuation, and a successful breakout above this range could mean a further upward move.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732605840811">
  <strong class="schema-faq-question"><strong><strong>How high will Cardano go by the end of 2024?</strong></strong></strong> 
  <p class="schema-faq-answer">The price of ADA could surge to a maximum of&nbsp;<strong>$1</strong>&nbsp;by the end of 2024.<br></p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732605848530">
  <strong class="schema-faq-question"><strong>What is the price of one ADA token?</strong></strong> 
  <p class="schema-faq-answer">At the time of writing, the price of 1 CardanoADA token was $0.584.<br></p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732605867972">
  <strong class="schema-faq-question"><strong><strong>Can Cardano overtake Ethereum?</strong></strong></strong> 
  <p class="schema-faq-answer">Even the most bullish of Cardano supporters acknowledge that Cardano will only potentially surpass Ethereum within 8 to 10 years.</p> 
 </div> 
</div>

Cardano Price Prediction For November 26

Table of Contents

CoinPedia News

Other articles published on Nov 26, 2024

Justin Sun Joins Trump-Backed DeFi Project as Advisor

Bitcoin Holds $92K; ADA and Altcoins Struggle in Market Dip

Coinbase CEO Brian Armstrong to Meet President-Elect Trump Over Possible Crypto Regulation

WisdomTree has filed for a Delaware trust to launch an XRP ETF

Rumble’s $20 Million Bitcoin Strategy Ignites Crypto Enthusiasm

Credible Predicts XRP’s Bullish Trend and Its Relationship with Bitcoin

Join our free newsletter for daily crypto updates!