Cardano holds strong support, why price can rally to $1.19
The post Cardano holds strong support, why price can rally to $1.19 appeared on BitcoinEthereumNews.com. Cardano has reclaimed the point of control after multiple successful retests of the $0.49 support. With bullish structure forming, a full rotation toward $1.19 resistance is now in play. Summary ADA reclaimed the point of control after strong bounces from $0.49 high time frame support Volume shows early bullish inflows; momentum needed to break toward $1.19 resistance Breakdown below the POC could trigger another retest of the $0.49 support base Cardano (ADA) continues to hold its high time frame support level at $0.49, a region that has proven reliable during multiple attempts to break lower. Following the most recent bounce, ADA has now reclaimed the point of control (POC), a critical volume and structural level that marks the midpoint of its current range. This development signals increasing strength and opens the path for a potential rally toward the top of the range. Key technical points: Strong Support at $0.49: ADA has respected this high time frame level three times, each producing an impulsive bounce Reclaim of Point of Control: Weekly candle close above the range mid confirms bullish structure and a higher low Targeting $1.19 Resistance: Value area high and high time frame resistance is now the next likely upside target ADAUSDT (1W) Chart, Source: TradingView The $0.49 zone has acted as a major pivot for Cardano over the past several months. With each retest, buyers have stepped in, producing strong recoveries. The fact that this level also aligns with the value area low further validates its importance. Now that ADA has reclaimed the point of control, bulls appear to be regaining control of the range. This point of control serves as both a structural and psychological level. It marks the range midpoint, dividing the price action between $0.49 support and the high time frame resistance at $1.19. Holding this…
The post Cardano holds strong support, why price can rally to $1.19 appeared on BitcoinEthereumNews.com.
Cardano has reclaimed the point of control after multiple successful retests of the $0.49 support. With bullish structure forming, a full rotation toward $1.19 resistance is now in play. Summary ADA reclaimed the point of control after strong bounces from $0.49 high time frame support Volume shows early bullish inflows; momentum needed to break toward $1.19 resistance Breakdown below the POC could trigger another retest of the $0.49 support base Cardano (ADA) continues to hold its high time frame support level at $0.49, a region that has proven reliable during multiple attempts to break lower. Following the most recent bounce, ADA has now reclaimed the point of control (POC), a critical volume and structural level that marks the midpoint of its current range. This development signals increasing strength and opens the path for a potential rally toward the top of the range. Key technical points: Strong Support at $0.49: ADA has respected this high time frame level three times, each producing an impulsive bounce Reclaim of Point of Control: Weekly candle close above the range mid confirms bullish structure and a higher low Targeting $1.19 Resistance: Value area high and high time frame resistance is now the next likely upside target ADAUSDT (1W) Chart, Source: TradingView The $0.49 zone has acted as a major pivot for Cardano over the past several months. With each retest, buyers have stepped in, producing strong recoveries. The fact that this level also aligns with the value area low further validates its importance. Now that ADA has reclaimed the point of control, bulls appear to be regaining control of the range. This point of control serves as both a structural and psychological level. It marks the range midpoint, dividing the price action between $0.49 support and the high time frame resistance at $1.19. Holding this…
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