Cardano is quickly approaching the critical and critical timeline support zone near $ 0.49 after its rejection of the high value zone in the recent price procedures. This level carries the main technical meeting and is likely to determine whether ADA continues its current range or turns into a new direction.
The Cardano (ADA) structure has previously turned from a declining trend with a consecutive decrease to its lowest level in a row that may now constitute a higher decrease, setting the basis for the next main movement if the demand for support.
Main technical points,
- Support area: 0.49 dollars support the high time frame with liquidity comfort and a meeting control point
- Market structure break: The previous downward trend was broken by a strong motivation, which created a new high swing
- Range structure: Ada currently ranges between $ 0.49 and a resistance of $ 1.19
After rejecting the high value area, ADA now decreases about $ 0.49, which is a high technical importance. This region has the control point of the current range and also works as a liquidity pool without the last monotheism. If the price sweeps this area and restores it to a strong size, this will confirm a low continuation and a sign of the new budget.
Previously, ADA was trading in a continuous declining structure, with low levels and lower lower levels. This has changed when I broke a sharp -rushing step, printing a new high swing and nullifying the previous lower direction. Since this step, the price has been looking for a higher decrease, and $ 0.49 is the main candidate for its creation.
However, in order for ADA to maintain its newly emerging bullish structure, he must carry this support. You can lose $ 0.49, nullify the range and open the door for a much deeper decline. On the contrary, the bounce of this level, especially if it is supported by demand and strong size, can send Ada to rotate to the high range at $ 1.19.
Until one of these levels is decisively broken, ADA remains linked in the range. The edges of the range provides the best risk settings for both bulls and bears.
What can be expected in the next basic procedure
ADA is approaching the critical support area that may serve as a launching platform for a higher new leg, but only if buyers appear. As long as $ 0.49 holds, the structure remains optimistic. Watch a backed backed or sterile collapse to indicate the next direction.
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