ADA Struggles to Break Key Supply Zone After Strong Rebound
Cardano (ADA) is trading at $0.907, down 5.5% on the day, after failing to break through the psychological $1 barrier. Despite strong momentum from July lows, the price is now consolidating as traders watch critical resistance and support levels that could determine ADA’s next move.
The daily chart shows ADA rallying sharply from the $0.65–$0.70 demand zone, where buyers stepped in after a prolonged downtrend. The breakout from a falling wedge pattern in mid-July fueled a surge toward $0.95–$1.00, a zone that previously acted as strong resistance.
However, the rejection at this level has created short-term weakness, with ADA pulling back into the high $0.80s. The chart highlights $0.85 as immediate support, while a deeper correction could revisit the $0.70 demand zone.
“ADA needs a decisive close above $1.00 to confirm a sustained breakout,” According to BITX analyst . “Until then, resistance remains strong, and traders should prepare for volatility around this zone.”
Volume surged during the rally, with more than 188 million ADA traded in the past 24 hours, indicating heightened market activity. Still, analysts caution that momentum has slowed, leaving ADA vulnerable to further consolidation.
Despite the short-term pullback, ADA remains one of the more closely watched altcoins, with many investors eyeing network developments and staking adoption as potential catalysts for future upside.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.