Cardano (ADA) Holds $0.79 Support, Targets $1 Breakout
Cardano (ADA) saw a 2% daily drop and a 9.3% weekly gain as sellers dominated by week’s end. On the hourly chart, ADA is hovering at a key $0.79 support level. Failure to breach $0.79 by day’s close could push Cardano down to $0.78 or even into the $0.76–$0.78 range.
From a midterm perspective, a breakout above the weekly resistance at $0.8955 may trigger further upside toward the $1 mark. Traders should monitor Cardano’s weekly candle close closely. At press time, ADA trades near $0.7933, suggesting a delicate balance between potential reversal and deeper correction.
Overall, maintaining the $0.79 zone is crucial for Cardano’s near-term trajectory and could set the stage for a larger rally.
Neutral
Cardano’s mixed signals — a 2% daily decline against a 9.3% weekly increase — place market sentiment in a neutral zone. At the $0.79 support, failure to rebound could trigger further correction, while a weekly close above $0.8955 would likely fuel bullish momentum toward $1. Similar patterns in past altcoin cycles show that holding critical support levels often precedes upward trends, whereas breakdowns lead to deeper sell-offs. Short-term traders may adopt cautious positions near current levels, waiting for confirmation of direction. Thus, the overall impact remains neutral until Cardano decisively breaks support or resistance thresholds.