Recent price movements of Cardano highlight the importance of the $0.84 level as a key support for maintaining bullish momentum in the market.
Key Support at $0.84
The $0.84 level serves as a crucial support, aligning with the 0.618 Fibonacci retracement, 55 EMA, and structural higher-low patterns. This level has been retested multiple times and continues to act as dynamic support.
Bullish Structure Remains Intact
The chart shows consecutive higher highs and higher lows, indicating that the bullish structure is maintained. As long as the $0.84 level holds, the bullish trend remains valid.
ADA Price Prospects
Considering the above factors, it is expected that ADA could reach the $1.19 resistance level if buying volume remains high. However, without volume confirmation, any upward move may face challenges.
The $0.84 level serves as an important structural foundation for ADA. Its maintenance paves the way for upward movement, while a break below may lead to deeper corrective action.
