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Cardano Must Hold Critical Support Around $0.67 To Sustain Bull Run Details
Cardano is trading above key demand levels after a volatile Friday that saw prices react sharply to the Bybit $1.5+ billion hack news. Bybit is a top cryptocurrency exchange. The market-wide panic took prices from local highs to critical demand zones, with Cardano dropping over 7% in less than six hours. Fear spread quickly, driving prices down as investors worried about further downside pressure. However, Bybits quick response and assurances have helped restore confidence, preventing a more aggressive selloff. Related Reading: Ethereum Holds Key Support Analyst Doubts Bears Can Defend $4K Anymore Despite the turbulence, Cardano remains above crucial support, suggesting that bulls are still in control as long as these levels hold. Top analyst Ali Martinez shared a technical analysis on X, revealing that the most critical support zone for Cardano (ADA) is between $0.67 and $0.80. This range serves as a strong demand area where accumulation has historically occurred. Holding this level is crucial for ADAs short-term outlook, as a breakdown below could trigger further selling pressure. With market sentiment stabilizing and key support levels intact, ADA could be positioned for a rebound. However, bulls need to reclaim lost ground quickly and push back above resistance levels to confirm a stronger recovery. All eyes remain on the broader market reaction following Bybits security breach. Cardano Bulls Holding Key Demand Cardano is trading at key demand levels that could serve as a strong base for a recovery rally. Bulls remain cautious as volatility and uncertainty continue to drive most altcoins into lower demand zones. The extreme selling pressure seen across the market since late December has shown no signs of stopping, leaving many investors on edge. Despite this, there is growing optimism that Cardano could soon reverse its bearish trend and begin a strong rally. Technical indicators suggest that ADA is at a critical point, where a sustained hold above key demand levels could set the stage for a significant move upward. Martinezs technical analysis on X highlights that the most critical support zone for Cardano is between $0.67 and $0.80. This price range has historically served as a strong accumulation zone, and as long as it holds, the broader bull run remains intact. If ADA successfully defends this range, bulls could regain confidence and push the price toward higher resistance levels. A breakout above key supply levels could accelerate buying pressure, triggering a move back toward previous highs. However, if selling pressure intensifies and ADA breaks below support, further downside could follow. Related Reading: On-Chain Metrics Reveal The Most Critical Resistance For Bitcoin Can BTC Break $97.5K? With market sentiment improving following Bybits security breach resolution, investors are watching closely for signs of strength in Cardanos price action. Those who have been accumulating during this consolidation phase could benefit from an eventual uptrend if bullish momentum returns. Holding above the $0.67$0.80 zone will be crucial in determining whether ADA can recover and reclaim lost ground in the coming weeks. Price Testing A Critical Level Cardano (ADA) is trading at $0.75 after another failed attempt to reclaim the $0.82 mark, a key resistance level that bulls have struggled to break. The short-term objective for bulls must be to push ADA above this level and hold it as support, signaling a shift in momentum toward the upside. A successful breakout would open the door for a test of the $0.85 level, which is aligned with the 4-hour 200 moving average (MA)a key indicator of short-term strength. For now, ADA remains in a consolidation phase, and bulls need to maintain control above the $0.73 level in the coming days. Holding this price range would confirm short-term strength and indicate a potential bullish recovery. If ADA fails to stay above $0.73, sellers could regain control and push the price lower, increasing the risk of a deeper correction. Related Reading: Solana Sweeps Lows But Recovers Can Bulls Reclaim $185 by Friday? Market conditions remain uncertain, but if bulls reclaim $0.82, a strong rally could follow, driving ADA toward higher resistance levels. Investors are watching closely to see if Cardano can establish a higher low and break the bearish trend that has persisted for weeks. Holding key support levels is essential for a sustainable recovery. Featured image from Dall-E, chart from TradingView
