Cardano (ADA) Hovers Around $0.60 With Bulls and Bears Locked in a Standoff

Key Takeaways

• ADA is holding above strong historical support at $0.622.
• Local structure suggests the final wave (c) could dip to $0.60.
• The macro structure shows a potential bottom formation of near $0.53.

Cardano (ADA) is currently undergoing a critical retest phase following an extended W-X-Y corrective structure on the higher timeframe.

While the 4-hour chart signals a possible macro bottom forming at key Fibonacci levels, the 1-hour chart shows short-term hesitation and a potential final leg down in a local correction.

The market closely watches ADA’s ability to reclaim higher support zones before committing to a full recovery.

ADA Price Analysis

ADA has been in a prolonged downtrend since its peak at $1.30, completing a full five-wave impulse and a complex W-X-Y correction.

The final Y wave appears to have bottomed at $0.530, aligned with the 0.786 Fibonacci retracement level from the full impulsive leg.

Price has since recovered around $0.63, retesting the 0.618 retracement level of the latest decline.

The long-term descending resistance has been broken, indicating that downward momentum may be exhausted.

The Relative Strength Index (RSI) has shifted from oversold to neutral, suggesting a potential change in sentiment.

However, upside momentum remains capped until the $0.70 resistance is breached.

The repeated bounces from the $0.62 area show strong historical demand, making this zone a make-or-break level.

If price holds above this and consolidates, it could signal the beginning of a new bullish sequence.

Otherwise, another dip toward $0.53 or even the macro low at $0.407 remains on the table.

ADA Price Prediction

ADA recently completed a five-wave upward structure from the $0.53 bottom on the lower time frame, followed by an ongoing A-B-C corrective pattern.

Wave (a) and (b) appear complete, and wave (c) could take price down toward $0.60–$0.59, which aligns with prior support levels and possible Fibonacci confluence zones.

The local resistance near $0.65 has rejected further upward movement, forming a short-term range between $0.622 and $0.64.

With RSI recovering from oversold territory, a brief push toward $0.645 is possible before a final C-leg flush occurs.

This short-term bearish outlook remains valid if price fails to break above the $0.645–$0.65 resistance zone with volume.

If wave (c) completes near $0.60 and price bounces with strength, it could begin a new upward impulse.

Otherwise, a break below $0.622 would signal a continuation of bearish momentum.

Expect volatility as ADA finalizes this corrective wave.

Traders should monitor how ADA reacts near $0.622 and $0.60 for signs of reversal or breakdown continuation.

Key Levels to Watch

• Major Support: $0.622 (0.618 Fib), $0.60 (local demand), $0.530 (0.786 Fib).
• Immediate Resistance: $0.645 (recent local high), $0.696 (0.618 Fib from peak), $0.70 (psychological).
• Breakout Confirmation: Sustained move above $0.696 with volume.
• Invalidation Level: Dropping below $0.530 would invalidate the bullish setup.
• Fractal Watch Zone: $0.78–$0.81 if breakout occurs from current accumulation zone.