TLDR
- Cardano has respected an ascending channel since 2018, supporting long-term growth through multiple market cycles.
- ADA reclaimed $0.84 support and formed higher lows, signaling renewed bullish momentum and steady buying pressure.
- Key resistance levels to watch are $1.15 and $1.25, areas that capped previous rallies earlier this year.
- A decisive move above $1.25 may open the path to stronger gains, while failure risks a retest of $0.84 support.
Cardano price action shows a steady upward path as the cryptocurrency continues to trade inside a rising channel that started in 2018. This long-term structure has provided consistent support through multiple market cycles and now coincides with short-term bullish signals. Traders are watching critical levels near $1.15 and $1.25, where past rallies have faced resistance.
Long-Term Channel Holds Firm
Cardano price has remained within a broad ascending channel for over six years. The lower boundary of this pattern has repeatedly offered a strong base during market downturns, including the deep corrections in 2019 and 2022. Each test of the channel’s base brought fresh buying pressure and eventual recoveries.
ADA/USD 1W Chart | Source: X
The mid-channel dotted line is acting as an important pivot point. In earlier cycles, Cardano price paused and gathered strength around this area before stronger moves higher. Current price action again hovers near this midpoint, a region that may serve as a new launchpad if momentum continues to build. The upper boundary of the channel marks long-term resistance and potential profit-taking territory for investors.
Cardano Price Builds Short-Term Strength
Furthermore, Cardano price recently reclaimed the $0.84 support zone, which served as a key pivot in recent months. This rebound coincides with a pattern of higher lows forming since late June, confirming steady demand and active buying on dips.
A decisive daily close above $0.95 adds confidence that bulls are regaining control. The chart shared by market analyst @ali_charts shows next significant resistance levels at $1.15 and $1.25. These areas acted as supply zones earlier this year, where previous advances stalled. Strong volume would help confirm an ongoing shift from accumulation to breakout.
Key Resistance Levels Shape the Next Move
In addition, clearing $1.15 would be a meaningful milestone for Cardano price. Limited historical resistance exists between $1.15 and $1.25, which could allow for a faster move once the first barrier is broken. Such a breakout would also align with the long-term ascending channel, supporting the idea of a broader upward trend.
ADA/USD 1D Chart | Source: X
Momentum indicators such as RSI and MACD can provide extra confirmation. Healthy market participation remains essential to sustain any rally. Without it, even a brief move above $1.15 could fade. Still, the combination of long-term channel strength and current market structure supports cautious optimism for further gains.
Support Remains Critical if Rejection Occurs
At the same time, failure to clear the $1.15 to $1.25 resistance band might bring a pullback toward $0.84. Maintaining this level is important to keep the broader bullish pattern intact. A break below could invite additional selling pressure and prolong consolidation.
Traders continue to watch the mid-channel region as a key signal area. A strong close above this pivot could confirm the start of a larger uptrend, similar to past cycles when Cardano price surged after consolidating at this level. Until then, market participants remain cautious, balancing the prospect of a breakout with the possibility of a temporary setback.
Cardano’s ability to sustain its multi-year ascending channel while aiming for these critical targets places it among the better-structured large-cap cryptocurrencies. Whether the next significant move comes swiftly or after more accumulation, the focus stays on the $1.15 and $1.25 levels as the next milestones for the Cardano price.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
