Cardano’s Breakout Tests Key Resistance: Here Are the Next Support Levels

• Cardano’s price rebound follows key resistance breakouts and past trading trends.
• Fibonacci levels highlight zones where Cardano may gain or lose momentum.
• Analyst Mihir sees the three-day chart as key to predicting Cardano’s long-term trend.

Cardano’s price action indicates a potential recovery following previous market declines. Key resistance and support levels define the cryptocurrency’s next possible movement.

Key Resistance and Support Levels

The market structure indicates an attempt to recover from previous declines. A downtrend resistance line has been broken, signaling a possible trend reversal. If the price remains above $0.6644, further bullish movements could follow. Historical support-to-resistance shifts suggest a pattern of recovery after corrections.

According to CryptoElites, a cup-and-handle pattern is forming, signaling potential bullish continuation. Resistance levels at $0.7322, $0.8356, and $0.8970 could influence the next price move. A breakout above these levels might push the price higher.

Fibonacci Levels and Market Movement

Fibonacci retracement levels highlight key areas where price action has slowed or reversed. The 0.5 retracement level at $0.86 and 0.618 retracement at $1.17 serve as important zones. The 0.786 retracement at $1.82 could act as resistance if the price rises.

Fibonacci extension levels suggest potential targets if momentum strengthens. The 1.0 extension level at $3.17 aligns with past resistance. Higher targets include the 1.272 extension at $6.44 and 1.414 extension at $9.32, depending on price action.

Market Trends and Analyst Insights

Mihir, known as RhythmicAnalyst, points to Cardano’s three-day timeframe as a strong indicator of long-term trends. The price action aligns with historical patterns, reinforcing the importance of key resistance and support levels. Whether buyers sustain momentum will determine the next direction.

Volume remains at 144.96M, showing active market participation. The price, currently at $0.7107, has risen 5.98%, reflecting increased buying pressure. Market watchers note that if this momentum continues, Cardano could retest resistance zones. Market sentiment and trading activity will shape the next moves.