Cardano

bullish

Daily

<p>Cardano recently initiated a strong upward rally, reclaiming its yearly high of $0.8 and advancing to the critical $1.3 resistance zone.</p>
<p>However, the market is expected to enter a consolidation phase, with price fluctuations between the $0.8 and $1.3 range.</p>
<h2 id="technical-analysis">Technical Analysis</h2>
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Shayan</a></p>
<h3 id="the-weekly-chart">The Weekly Chart</h3>
<p>Cardano has recently experienced a surge in buying pressure, rallying from the critical $0.3 support zone. This bullish momentum enabled ADA to reclaim its prior yearly high of $0.8 and reach the significant $1.3 resistance level. However, the $1.3 threshold remains a decisive barrier, with sellers exerting considerable influence, leading to a recent rejection.</p>
<p>In the mid-term, ADA will likely undergo a retracement phase, potentially returning to the broken $0.8 level before resuming its upward trajectory. A successful rebound from this support could set the stage for a renewed rally, targeting the crucial $2 resistance zone and signaling the continuation of a long-term bullish trend.<a href="https://cryptopotato.com/wp-content/uploads/2024/12/ADA-W-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></p>
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3>
<p>On the 4-hour chart, Cardano’s bullish momentum has waned after encountering resistance at the $1.3 level, highlighting significant selling activity. This led to heightened volatility and sideways consolidation around this critical zone.</p>
<p>During this consolidation phase, a bearish reversal pattern for the head and shoulders formed, with the price now teetering near the pattern’s neckline. A confirmed breakout below this neckline could trigger a short-term correction, with the asset potentially retracing to the 0.5 ($0.82)–0.618 ($0.7) Fibonacci levels.</p>
<p>This corrective move could allow buyers to re-enter the market, potentially fueling the next rally aimed at reclaiming the $1.3 resistance and setting the stage for further upward momentum.<a href="https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-375376" src="https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-scaled.jpg" alt="" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/12/ADA-4H-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a></p>
<p>The post <a href="https://cryptopotato.com/cardano-price-analysis-what-is-next-for-ada-after-7-daily-drop-to-below-1/" rel="noopener noreferrer nofollow">Cardano Price Analysis: What Is Next for ADA After 7% Daily Drop to Below $1?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Cardano Price Analysis: What Is Next for ADA After 7% Daily Drop to Below $1?

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