"Momentum is quietly tilting back to buyers," said one trader watching Cardano's recent moves closely. After bouncing off a low near $0.1535, ADA has clawed its way up to $0.1638, marking a nearly 7% rebound within days. The critical hurdle now stands at $0.1751, a level that has repeatedly capped gains for over a month and must be cleared to challenge the $0.18 mark, a price point that would signal a potential end to July's downtrend.
On the 3-hour chart, Cardano remains trapped in a broad range with a clear pattern of declining highs. Early July's surge to $0.20 fizzled out swiftly, triggering a full retracement within two days. Another failed rally near $0.1805 on July 23 confirmed sellers are defending lower levels. The recent dip to $0.1535 provided a floor where buyers stepped in, but despite the bounce, ADA remains almost 18% below its early July peak.
The setup is straightforward: resistance at $0.1751 has kept ADA contained since the initial spike, reinforced by the rejection wick from July 23. A decisive close above this level, ideally backed by increased volume, could upend the string of lower highs and open the door to $0.18 and eventually the July high at $0.20. Clearing these thresholds would mark the first strong bullish signal for Cardano since spring. Until then, traders should treat the $0.175 area as a supply zone prone to selling pressure.
On the downside, losing support at $0.1488, about 9% below the current price, would likely drag ADA toward $0.1424, the base formed in late June. That would deepen the correction and keep bears in control. This tight range-bound action highlights how ADA’s path remains uncertain despite the recent lift, with key levels dictating whether buyers or sellers gain the upper hand.
This article is for informational purposes and not financial advice.
