The price of Cardano (ADA) is near an important technical level that could determine its next movement. Currently, the price of ADA is around $0.77, approaching a resistance zone.
ADA Resistance Zone
Cardano has been moving within a downward parallel channel since late 2024. ADA price is now testing the top of the channel for the first time since December. This resistance aligns with the 0.236 Fibonacci retracement level, making the $0.81 level particularly relevant.
Key Support and Retracement Levels
On the negative side, ADA has multiple support levels that have remained strong during its correction. The 0.382 Fibonacci level at $0.6885 acts as a short-term floor. Lower support exists at $0.6165 and $0.5446, marking the 0.5 and 0.618 retracement areas.
Medium-Term Cardano Price Targets
If ADA breaks above $0.81 with strong confirmation, the next logical target remains the psychological $1 level. The broader technical setup also suggests potential long-term movement back to the $1.30 range, which was reached in December 2024.
The resistance at the $0.81 level continues to act as a pivotal barrier, and analysts are waiting to see if Cardano can reclaim higher ground and reverse its ongoing bearish trend.
