Cardano Could Move Up To $0.83 If Momentum Holds – Can ADA Sustain A Breakout?
Cardano faces enormous volatility and sales pressures, reflecting the struggles of the wider cryptocurrency market as it seeks strong support. Since early December, ADA prices have fallen by more than 61%, bears dominate the trend and bulls are unable to recover their momentum. Despite the challenges of the environment, Cardano showed signs of recovery, with a breakthrough of 15% yesterday, raising the price to a key level.
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This breakthrough offers investors a glimmer of hope, but the ADA must maintain its current level to confirm the possibility of continuation. The market remains uncertain and the coming days are crucial to determine whether Cardano can maintain its recent earnings. If the momentum remains, analysts think the ADA can rally further, providing holders with some much-needed optimism.
Top crypto analyst Ali Martinez Cardano is breaking out And it is possible to move towards $0.83. Martinez stressed that the next key challenge will be to maintain this momentum, as it could indicate a reversal in a broader downtrend. Currently, investors remain cautiously optimistic and pay close attention to whether Cardano can maintain its upward trajectory.
Cardano can begin the recovery phase
Cardano may be on the verge of restoring the rally as it finds strong demand at current levels and bears cannot push prices toward lower demand zones. After months of ongoing sales pressure, Cardano appears to show signs of intensity. However, the recovery path is not direct. The Bulls must recoup and maintain a key level above the $0.85 level to confirm the start of the ongoing upward trend.
Top analyst Ali Martinez adds optimism Shared technical analysis on X This highlights Cardano’s potential breakthrough. According to Martinez, Cardano may shift toward $0.83 in the coming days if the current momentum continues. This breakthrough is an important opportunity for ADA to divert market sentiment and restore investor confidence.
Despite encouraging signs, the wider market remains shaky, with analysts calling for potential echoes as BTC and Altcoins struggle to find direction. The entire crypto space seems to be fighting uncertainty, which has a serious impact on emotions. However, people hope that Bitcoin and altcoins (including Cardano) will begin a new recovery rally in the coming days.
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At present, everyone’s eyes are on the ADA’s ability to keep breaking through and push key resistance levels. The next few days are crucial to determine whether such recovery can gain traction or whether further integration is needed. Investors are cautiously optimistic, waiting for Cardano to confirm its upward momentum and get rid of the recent downtrend.
Price testing is crucial for supply
Cardano (ADA) is currently trading at $0.78 after a 15% surge yesterday, indicating that momentum may change. Despite such a rally, the ADA faces resistance at the $0.85 level and cannot break through and recover above the key liquidity level of $0.80. The inability to push the area raises questions about whether the recovery rally can maintain its momentum in the coming days.
However, the ADA Bulls have a silver lining. The price managed to surpass the 200-day exponential moving average (EMA), which is about $0.72. This is a crucial technical indicator that marks long-term strength and provides optimism for potential upward trends. Staying above on 200 days of EMA can help Bulls recover control and challenge a higher level of foundation.
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The next key challenge for ADA is to stay above current levels and build the momentum needed to retest the $0.85 resistance. A breakthrough above the region will confirm a short-term bullish trend and open the door for further earnings. However, if the EMA is not exceeded 200 days, new sales pressure may be caused, thus returning prices to lower support areas. Currently, ADA is still in a delicate position and the next few days may define its short-term direction.
Featured images from DALL-E, charts from TradingView
