In the dusty plains of the crypto market, Cardano (ADA) has stirred from its slumber near the $0.780 zone, like a weary traveler rising at dawn. It climbs now, inching toward the $0.840 horizon, though the road ahead is as uncertain as a gambler’s luck.
- ADA, with a grunt and a groan, began its ascent from the $0.780 trough, where it had lain like a forgotten mule.
- It now trots above $0.8120, guided by the steady hand of the 100-hourly simple moving average, a beacon in the chaos.
- A short-term triangle, as tight as a miser’s purse, was shattered at $0.8250 on the hourly chart of the ADA/USD pair (courtesy of Kraken, the sea monster of exchanges).
- If it clears the $0.840 ridge, it might gallop further, though the path is riddled with rocks and shadows.
After a tumble that left it bruised and battered, Cardano found solace near $0.780, much like a prospector striking gold in a dry creek. It surged past $0.80 and $0.8250, its spirit unbroken. A triangle, as fleeting as a desert mirage, was left behind at $0.8250, and the price flirted with $0.840, reaching a peak of $0.8395 before pausing to catch its breath. It now rests above the 23.6% Fib retracement level, a thin thread of hope in the vast tapestry of the market.
Trading above $0.8250, ADA clings to the 100-hourly simple moving average like a sailor to a lifeline. Ahead lies the $0.840 barrier, as stubborn as a mule. Beyond that, $0.860 looms, and then $0.90, a summit that promises a rally if conquered. Should it breach $0.90, the winds might carry it to $0.980, and perhaps even the fabled $1.00. But the market is a fickle mistress, and dreams can turn to dust in an instant.
Yet, if ADA falters at $0.840, it could stumble back into the abyss. The first ledge of support awaits at $0.8250, a thin crust over a deep chasm. Below that, $0.8180 stands guard, aligned with the 50% Fib retracement level. Should it fall further, $0.780 beckons, and beyond that, the bleak plains of $0.750, where the bulls might gather to make their last stand.
Technical Whispers
Hourly MACD – The MACD hums with bullish vigor, though it’s as reliable as a weathervane in a storm.
Hourly RSI – The RSI tiptoes above 50, a faint pulse in the heart of the beast.
Major Support Levels – $0.8180 and $0.7800, the last outposts before the void.
Major Resistance Levels – $0.8400 and $0.9000, the gates to glory or ruin.
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2025-09-03 08:13