Cardano (ADA) eyes $0.36–$0.38; support at $0.3466 key for further upside
Cardano (ADA) traded around $0.3569 on Dec. 27 as markets experienced a weekend correction. Hourly charts show local resistance near $0.3590; if bulls hold that level and the daily candle closes close to it, ADA could push to the $0.36 zone and potentially $0.37 by week’s end. Mid‑term indicators show no reversal signals, but the weekly close is pivotal: a close far from the formed support at $0.3466 raises the probability of a rebound toward $0.38–$0.40. Key technical levels: immediate resistance $0.3590, near‑term target $0.36–$0.37, support $0.3466, medium‑term upside $0.38–$0.40. Traders should monitor candle closures on daily and weekly timeframes and volume to confirm continuation or reversal.
Neutral
The report is primarily technical: ADA is trading near $0.3569 with immediate resistance at $0.3590 and a clear support at $0.3466. There are no reversal signals on mid‑term charts, which suggests neither a strong bullish nor bearish conviction — price action hinges on daily and weekly candle closures and volume confirmation. If bulls hold $0.3590 and daily/weekly closes support continuation, short‑term bullish momentum toward $0.36–$0.37 (and possibly $0.38–$0.40 on sustained strength) is likely. Conversely, failure to defend $0.3466 or weak weekly close could trigger a pullback. This mirrors past small‑range consolidations where confirmation came from volume and candle closes rather than headline news. For traders: short‑term trades can target the $0.36–$0.37 range with tight stops below $0.3466; swing traders should wait for weekly confirmation to assume a larger directional bias.