- Cardano is struggling to break above the key resistance at $0.6850 after a short-lived recovery from $0.6420.
- Failure to clear this level could trigger another decline toward $0.650 or lower.
Cardano (ADA) has shown signs of life after a sharp drop to $0.6420, but its recovery may already be running out of steam. While the token managed to break through minor resistance and move above $0.6550, it now faces a major hurdle at $0.6850 — a level that could make or break ADA’s short-term trajectory.
After falling from a recent high of $0.7298, Cardano entered a bearish phase that saw it tumble below critical support levels at $0.700 and $0.680. The bounce from $0.6426 did spark optimism among bulls, particularly after a break above a descending trendline at $0.650. However, the rebound remains fragile.
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On the hourly chart, ADA is still trading below the 100-hour simple moving average, indicating that bearish momentum hasn’t fully subsided. The $0.6850 level represents a 50% Fibonacci retracement of the recent drop, and so far, sellers are defending this zone aggressively.
If ADA can close above $0.6850, the next resistance lies at $0.7090. A breakout above that level could pave the way for a move back toward $0.730 and potentially even $0.750 in the near term. That said, failure to overcome $0.6850 could signal a deeper pullback.
On the downside, immediate support is seen near $0.6630, followed by $0.6500 — a level that previously acted as resistance. A decisive drop below $0.650 could open the door to further declines, with support zones at $0.6320 and $0.6175 coming into focus.
In summary, while ADA has shown a glimmer of recovery, the bears still have the upper hand unless a strong move above $0.6850 materializes. Traders should watch this key resistance closely, as it may determine whether Cardano resumes its climb or slides back toward recent lows.
