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Cardano (ADA) is consolidating after a strong rally that pushed prices to $0.6135. Currently trading at $0.5789, ADA’s next move will depend on whether it can sustain key support levels and reignite bullish momentum.
Chart Analysis: Key Levels for ADA
- Support levels:
- $0.4968: Immediate support zone that has held firmly since the rally.
- $0.4480: A stronger base, coinciding with previous accumulation zones.
- $0.4122: The 20-day EMA, which is trending upward and reinforcing bullish sentiment.
- Resistance levels:
- $0.6135: Immediate resistance that ADA needs to clear for further upside.
- $0.65: A psychological level that, if breached, could accelerate gains.
What’s Next for Cardano?
Cardano’s current consolidation suggests a healthy pause in its bullish trajectory. Traders will be watching to see if ADA can reclaim $0.6135 and aim for $0.65. On the downside, maintaining support at $0.4968 will be critical to prevent further corrections.
