- Cardano drops 5% after hitting strong resistance at $0.86.
- Technical indicators suggest a healthy pullback within a broader uptrend.
- Support at $0.79 may hold, keeping ADA’s path to $1.50 alive.
Cardano’s ADA has slammed the brakes. After weeks of steady gains, Cardano tumbled over 5% in 24 hours, falling from $0.86 to $0.79. The move surprised traders who expected a slow but sure climb toward higher targets. What triggered the sell-off wasn’t a dramatic headline or ecosystem shake-up. Instead, technical patterns flashed warning signs. Resistance kicked in hard, and profit-taking followed. The big question now is whether this dip signals deeper trouble or just a healthy pause before another run.
Technicals, Not News, Drive the Pullback
Cardano didn’t see any major news in the last week. There were no major upgrades, announcements, or sudden changes from developers. With fundamentals quiet, traders turned to the charts. Technical analysis shows that the price overheated near $0.86 , a strong resistance level. Once ADA approached this ceiling, many short-term holders began to take profits. This pullback, while sharp, still fits inside the broader uptrend. ADA gained nearly 30% this July—its best month of the year. Such gains usually come with brief corrections.
Analysts called the recent slide a standard retracement rather than a reversal. The bullish momentum may have cooled, but it hasn’t disappeared. Technical indicators also offer mixed signals. The 9-Day Moving Average still supports the price, keeping bullish hopes alive. However, some momentum tools like the Awesome Oscillator and RSI suggest that interest is fading. Volume rose slightly, indicating active trading despite the drop. That leaves the door open for a quick rebound if bulls return.
Is $1.50 Still Possible for ADA?
Support at $0.79 becomes a crucial level to watch. If this zone holds firm, ADA could bounce quickly. A drop below $0.75, though, may weaken the bullish outlook and delay a push toward higher targets.The $1.50 target remains in sight, but Cardano must first break through stubborn resistance. If the bulls regroup and retest the $0.86 barrier, that level could flip into support.
With enough momentum, the next major resistance around $1.10 may come into play. A strong rally from there could put $1.50 within reach. Still, the road ahead won’t be smooth. Bitcoin’s performance could influence ADA’s next move. A sharp drop from BTC might send shockwaves across altcoins, including Cardano. On the other hand, if BTC stabilizes, ADA has a clearer shot at recovery.
For now, short-term traders may look at lower timeframes for signals of strength. Signs like rising volume, bullish candlestick patterns, or reclaiming lost levels could suggest another rally is forming. Cardano’s recent dip looks like a reset, not a breakdown. Support zones remain intact for now. If bulls defend these levels, the uptrend could resume in the coming days. The path to $1.50 still exists—it just needs stronger conviction and better timing.
