### **Updated Weekly Analysis of Cardano (ADA/USDT)**
#### **New Key Levels**:
1. **Resistance**:
- **$1.26**: Price recently hit this level and is currently struggling to close above it. This is a significant resistance zone and aligns with the 2022 price action.
- **$3.10**: Long-term target and all-time high, marking the next major resistance if price sustains above $1.26.
2. **Support**:
- **$0.81**: Previous major resistance, now acting as key support. A retest here would be a healthy pullback while maintaining the bullish structure.
- **$0.46**: Mid-range support, which acted as resistance during accumulation before the breakout.
- **$0.23**: Historical bear market low and ultimate downside support level.
---
### **Key Observations**:
1. **Breakout Confirmation**:
- The price exploded out of a multi-month accumulation range between **$0.23** and **$0.46**, and surpassed the major breakout level at **$0.81**.
- The breakout was accompanied by **increasing volume**, confirming strong bullish momentum.
2. **Current Consolidation**:
- Price is now consolidating near **$1.26**, showing initial rejection at this resistance zone.
- The structure remains bullish as long as price holds above **$0.81**. Any pullback to this level would likely act as a buying opportunity.
3. **Volume**:
- Volume surged on the breakout, confirming strong buyer interest.
- Current volume has tapered off slightly, indicating consolidation.
4. **Moving Averages**:
- The **50-week SMA** (blue line) is trending upwards, acting as dynamic support around **$0.46**.
- The **200-week SMA** (red line) is flattening near **$0.73**, reinforcing the broader bullish shift.
---
### **Market Structure**:
- ADA is showing a **clear uptrend** with a series of **higher lows** and **higher highs**.
- The breakout from long-term accumulation and successful reclaim of **$0.81** confirms a bullish reversal.
---
### **Outlook**:
1. **Bullish Case**:
- If ADA can **close above $1.26** on the weekly chart, the next target will be **$2.00**, with a long-term outlook toward the **all-time high at $3.10**.
2. **Bearish Case**:
- If price gets rejected at $1.26, expect a healthy pullback toward **$0.81**. This would still preserve the bullish structure.
- A breakdown below $0.81 would invalidate the current bullish thesis and shift focus back toward $0.46.
---
### **Summary**:
Cardano is at a critical juncture near **$1.26 resistance**. A weekly close above this level would open the door for continuation toward **$2.00–$3.10**. However, a rejection may lead to a pullback toward **$0.81**, which would be a key support for re-entry. The overall trend remains bullish, with clear higher highs and volume confirmation of the breakout.
#### **New Key Levels**:
1. **Resistance**:
- **$1.26**: Price recently hit this level and is currently struggling to close above it. This is a significant resistance zone and aligns with the 2022 price action.
- **$3.10**: Long-term target and all-time high, marking the next major resistance if price sustains above $1.26.
2. **Support**:
- **$0.81**: Previous major resistance, now acting as key support. A retest here would be a healthy pullback while maintaining the bullish structure.
- **$0.46**: Mid-range support, which acted as resistance during accumulation before the breakout.
- **$0.23**: Historical bear market low and ultimate downside support level.
---
### **Key Observations**:
1. **Breakout Confirmation**:
- The price exploded out of a multi-month accumulation range between **$0.23** and **$0.46**, and surpassed the major breakout level at **$0.81**.
- The breakout was accompanied by **increasing volume**, confirming strong bullish momentum.
2. **Current Consolidation**:
- Price is now consolidating near **$1.26**, showing initial rejection at this resistance zone.
- The structure remains bullish as long as price holds above **$0.81**. Any pullback to this level would likely act as a buying opportunity.
3. **Volume**:
- Volume surged on the breakout, confirming strong buyer interest.
- Current volume has tapered off slightly, indicating consolidation.
4. **Moving Averages**:
- The **50-week SMA** (blue line) is trending upwards, acting as dynamic support around **$0.46**.
- The **200-week SMA** (red line) is flattening near **$0.73**, reinforcing the broader bullish shift.
---
### **Market Structure**:
- ADA is showing a **clear uptrend** with a series of **higher lows** and **higher highs**.
- The breakout from long-term accumulation and successful reclaim of **$0.81** confirms a bullish reversal.
---
### **Outlook**:
1. **Bullish Case**:
- If ADA can **close above $1.26** on the weekly chart, the next target will be **$2.00**, with a long-term outlook toward the **all-time high at $3.10**.
2. **Bearish Case**:
- If price gets rejected at $1.26, expect a healthy pullback toward **$0.81**. This would still preserve the bullish structure.
- A breakdown below $0.81 would invalidate the current bullish thesis and shift focus back toward $0.46.
---
### **Summary**:
Cardano is at a critical juncture near **$1.26 resistance**. A weekly close above this level would open the door for continuation toward **$2.00–$3.10**. However, a rejection may lead to a pullback toward **$0.81**, which would be a key support for re-entry. The overall trend remains bullish, with clear higher highs and volume confirmation of the breakout.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.