Cardano News Today: Cardano’s $0.63 Level Under Scrutiny—Will It Pave the Way to $1.70?
- ADA's $0.63 support level is critical for determining its path toward $1.70, with technical analysis highlighting a symmetrical triangle pattern. - A break above $0.63 could trigger a 157% rally to $1.75, while a breakdown risks a drop to $0.50, according to Coinotag and The Crypto Basic. - Fundamental catalysts include Cardano's gTLD initiatives and rising staking participation (70%), but whale activity has shifted to projects like Mutuum Finance. - Mixed market dynamics show 0.65% 24-hour gains but 38%
Cardano's
This symmetrical triangle, defined by narrowing trendlines and reduced volatility, indicates a significant move may be imminent. A fall below $0.63 could see ADA drop to $0.50, undermining the bullish outlook, while a sustained climb above $0.736 would reinforce the pattern’s positive potential. According to CoinMarketCap, ADA was trading at $0.65 on October 25, up 0.65% in 24 hours, with a market cap of $23.57 billion—a figure also cited by Coinotag. However, trading volume has shrunk by 38% to $448 million, reflecting investor caution ahead of a possible breakout.
Experts stress the importance of the $0.63 level. Man of
On the fundamentals side, positive developments are adding to the bullish narrative. Cardano’s upcoming AMA events on October 27, hosted by the
Despite these positives, market sentiment remains mixed. While ADA bulls are targeting $0.85, large holders have started exploring other opportunities. This shift highlights ongoing short-term uncertainty, even as the long-term technical picture remains optimistic.
Technical signals add further complexity. A MACD golden cross below the zero line—a rare bullish indicator—has appeared, which has historically preceded 60% price rallies, as noted by
Reaching $1.70 depends on ADA holding the $0.63 support. If this level is maintained, the symmetrical triangle could resolve with a 157% rally, aligning with the 1.414 Fibonacci extension at $1.75, according to an analysis by
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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