- ADA must hold above $0.686 to avoid a deeper correction.
- Breaking $0.845 could trigger a rally toward $0.94.
- Price action remains stuck in a triangle, showing market indecision.
Cardano (ADA) holders have been sitting on edge lately, just waiting for something—anything—to tip the market one way or the other. According to a recent breakdown from the YouTube channel More Crypto Online (the guy has almost 300k subs, so folks pay attention), ADA’s kinda at a make-or-break moment right now.
C-Wave Rally or… Not?
The analyst says ADA’s currently working through a corrective pullback that kicked off after peaking around May 12. But here’s the twist: this pullback might actually be the setup for a bullish C-wave rally. If that plays out? We could be looking at a run toward $0.94 — maybe more.
But there’s a catch.
ADA needs to stay above $0.686. That’s the 78.6% Fibonacci retracement of the last move up, and it’s basically the line in the sand. As long as ADA holds this level, the bullish setup stays alive. If it falls below? The mood shifts. Fast.
If It Breaks Down…
Drop under $0.686 and we could be headed into deeper correction territory. The analyst warns of targets at $0.643, then $0.60, and possibly as low as $0.51 if things keep sliding. These zones are drawn from past swing lows and retracements, so they’ve got some weight behind them.
Still, there’s a little bit of hope. ADA recently bounced a bit off the 61.8% retracement area — a spot that also lines up with the lower boundary of a trend channel. It’s not a full-blown reversal, but it’s a start. Buyers seem to be peeking in.
The analyst makes a point: don’t obsess over tiny price movements. Focus on broader zones. Stuff changes fast.
Triangle Trouble & Resistance Ahead
Since January, ADA’s been stuck in a messy sideways grind, full of overlapping corrections. The analyst thinks it’s forming a big ol’ triangle pattern. Until ADA breaks out decisively, the market’s basically undecided.
The resistance zone to watch? Between $0.783 and $0.845. That’s the ceiling. If ADA busts through $0.845, we could see the beginning of that rally toward $0.94.
All Eyes on $0.686
So yeah, it really comes down to this one level. If ADA holds the line above $0.686, bulls might get their move. If not? Well, things could get bumpy.
As the analyst put it — $0.686 is the tipping point. Watch it close.
