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HomeCrypto NewsMarketHere's the Level Cardano Price Must Hold Before It Can Soar to $1.33

Here’s the Level Cardano Price Must Hold Before It Can Soar to $1.33

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A market technician has shared an important level the Cardano price must maintain before a recovery to greater heights.

Notably, Cardano price has slipped into a bearish phase as the broader crypto market struggles, recently dropping below the $0.80 mark. ADA now trades near $0.76 and sits in a zone that could decide whether it climbs toward $1.33 or sinks to lower supports.

Market analyst Arman Shaban recently discussed the token’s current price position in a TradingView analysis. The market watcher highlighted the $0.68 to $0.78 range as the major area to watch. 

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Cardano Price Journey Toward the Demand Zone

For context, this zone features a bullish order block and a demand base, making it the most important level on the chart at press time. ADA’s latest decline has taken it back into this pocket, and the market now waits to see if buyers can step in to hold the line.

Data from Shaban’s 3-day chart shows that in early May, sellers pushed Cardano below $0.7, triggering a liquidity sweep. Interestingly, buyers quickly absorbed the move, and by June, the market formed a major demand zone. This base launched a rally that touched the $0.94 high in July, shifting the market structure to bullish.

However, the rally met resistance at this price, which represented a Break of Market Structure (BMS). The resulting retracement led the Cardano price to retest a bullish order block by August, which buyers defended, confirming the zone as valid support. 

Cardano 3D Chart
Cardano 3D Chart | Arman Shaban

A rebound ensued, carrying the price higher into late August and early September, when ADA hit resistance around $1.00. However, sellers regained control and have now dragged Cardano back into the $0.68–$0.78 demand area, where it currently trades. This also represents the previous bullish order block.

ADA Targets $1.33 in the Mid-Term

Shaban stressed that this zone could make or break Cardano’s outlook. If the level holds, ADA could stage a rebound with near-term targets at $0.85, $0.95, and $1.00. A sustained push through those levels could open the way to mid-term goals at $1.05, $1.17, and $1.33. 

However, if the Cardano price slips under $0.68, the bullish structure collapses, and deeper demand clusters further down the chart could enter the picture.

Notably, other analysts remain bullish on Cardano’s short-term price action. For instance, Ali Martinez previously noted that as long as Cardano stays above $0.80, a rebound toward $0.95 remains possible. However, ADA has relinquished this mark, but market participants await a rebound above it.

Speaking on the recent decline, analyst Man of Bitcoin explained that the Cardano price has dropped below support, and this removed the direct bullish setup. He argued that a break above $0.83 would be the first sign of a bottom, but he emphasized that the market still lacks a confirmed low.

For the long term, Martinez is also bullish, previously pointing to Cardano’s performance in the past cycle. He noted that ADA peaked at the 1.272 Fibonacci extension then, and if history repeats, it could reach between $3 and $6 this cycle.

Cardano Price Chart Ali Martinez
Cardano Price Chart | Ali Martinez

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Sam Wisdom Raphael
Sam Wisdom Raphael
Sam Wisdom Raphael is a seasoned crypto news writer and journalist with 5 years of experience covering blockchain, DeFi, and crypto developments. Sam's active presence in the crypto community complements his deep understanding of the crypto space, allowing him to craft comprehensible price analysis reports and tackle technical blockchain concepts.

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