$ADA /USDT: Can Cardano Reclaim $1.00 After This Pullback?
Current Price: $0.9818 (-12.80%)
The market is presenting a significant correction for Cardano ($ADA ) after testing a high of $1.0242. With the daily low at $0.9618, the coin appears to be stabilizing, but traders are closely monitoring whether this is the bottom or the start of a deeper retracement.
Key Levels to Watch:
Resistance: $1.0242 (Recent high)
Support: $0.9618 (Daily low)
24-Hour Range: $0.9618 - $1.1415
Observations:
The 15-minute chart shows an effort to regain momentum after hitting local support.
A breakout above $1.00 could attract buyers looking to capitalize on the recent dip.
With a 383M trading volume, Cardano remains a top contender for volatility-driven opportunities.
Strategy for Traders:
Bullish Opportunity: Watch for sustained movement above $1.00 to confirm upward momentum, targeting $1.05 or higher.
Risk Management: Tight stop-losses below $0.96 to mitigate further downside risk.
The broader market sentiment will play a role in ADA's recovery. Is this dip a buying opportunity? Keep an eye on the charts and stay updated!