The Cardano price has recently faced sharp selling pressure, sliding from local highs and now consolidating around the $0.82 region. While this correction may seem alarming, it actually presents a strong opportunity for long-term investors to buy Cardano coin at discounted levels.
Historically, $ADA has rebounded strongly from oversold conditions, and the current setup suggests that buyers could be preparing for another upside attempt.
One of the most important levels on the current chart is the $0.80 price zone, which acts as a crucial support area. This level has already triggered buying interest, as shown by the candle wicks rejecting further downside.
ADA/USD 1-day chart - TradingView
If ADA continues to hold above $0.80, the probability of a bounce back toward resistance at $0.85–$0.87 increases. The 50-day SMA at $0.859 also reinforces this range as a near-term target.
Looking at the above chart:
While Cardano-specific news supports long-term growth through ecosystem development and adoption, the short-term trajectory depends heavily on Bitcoin. If Bitcoin maintains levels above $110,000, ADA could stabilize and recover.
However, if $Bitcoin crashes below $110K, the entire crypto market may face another wave of sell-offs, which could push the Cardano price back toward the 200-day average near $0.73 or even lower.
For investors looking for entry points, the current pullback is attractive. The $0.80 zone offers a great risk-reward ratio, especially if $BTC remains stable. Short-term traders may consider targeting $0.85–$0.90, while long-term holders can accumulate ahead of potential growth in 2025 and beyond.
That said, caution is advised. A fallback scenario remains in play if the market turns risk-off. Still, the technical structure shows that $Cardano coin at current prices is a compelling opportunity.
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