The post Key Supply and Demand Zones to Watch as Cardano (ADA) Gains Momentum appeared on BitcoinEthereumNews.com.

Cardano (ADA) shows signs of life after a 35% fall from the cycle peak, suggesting a notable breakout. The token has gained 13%, and traders expect more upsides in the coming days. Could this be a tipping point for Cardano? Here are the critical demand and support zones to watch.  Cardano’s Recovery: Key Supply and Demand Zones to Monitor Cardano has gained 2.6% in the past day and is trading at $0.81 as of this writing. The recent rally comes after Grayscale filed for a Cardano ETF, and experts are projecting a stronger rally toward a new high.  While the on-chain metrics signal a potential rally, Cardano technicals are cautious. ADA faces challenges at critical resistance levels, with significant demand building near $0.72. The $0.85 level remains a strong resistance, keeping ADA from regaining higher price territory. A solid breakout over this level might propel ADA toward $0.90. ADA’s downside support is at $0.68, where buyers have relieved selling pressure. A drop below this level might break the bullish narrative and push the price below $0.60. ADA’s price is still closely tied to crypto industry macro trends. A breakout in Bitcoin price will elicit a ripple effect in altcoins, including Cardano.  According to leading crypto analyst Sedar Balumn, ADA must maintain momentum to stake its breakout attempt. Sedar believes a closing over $0.82 would signal a positive trend reversal, allowing a rally to $0.95 or $1 in the next few days. Cardano Price Chart (24-Hour), Feb. 13, 2025 | Source: CoinGecko Despite this confidence, the overall market remains volatile. ADA must build a strong support base above $0.75 to fuel long-term upward movement. Until then, price swings will be determined by a battle between bulls and bears, making these support and resistance levels critical in the short term. Meanwhile, market…

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Filed under: News - @ February 23, 2025 3:14 am