Cardano Eyes bullish Reversal Despite $1 Rejection
Cardano (ADA) price recently faced a setback at $1, but the overall uptrend persists. With support holding strong at $0.90, bulls are hopeful for a bullish reversal.
The market sees a potential higher low developing between $0.86-$0.90, hinting at a bullish continuation. Momentum indicators show some softening, yet the longer-term trend remains bullish.
Key points include:
- Cardano price consolidates above $0.90 after $1 rejection
- Potential advancement of a higher low between $0.86-$0.90
- Upward trend intact with higher highs and lows since $0.51 base
Cardano futures volume spiked to a 5-month high, adding weight to the bullish case. This surge suggests traders see promise in ADA. Analysts point to the $1.50 region as a target if the uptrend continues.
Amid these dynamics, keeping an eye on the $0.86-$0.90 zone becomes crucial. A strong rebound here signals bullish control, setting the stage for further gains.
