Cardano (ADA) is approaching a critical recovery point, and analyst Giannis Andreou identifies the $0.22–$0.24 range as a key demand zone shaping its next move.
In his latest technical analysis, Andreou said ADA is testing this demand area, with the 0.618 Fibonacci retracement level at $0.2278 reinforcing the zone. Holding this range would establish a higher low and position the token for a recovery toward higher price levels.
However, Cardano faces near-term selling pressure. According to CoinMarketCap data, ADA trades at $0.2212, down 6% over the past 24 hours and 12.5% over the past week. Despite the recent decline, the token retains an 8.9% gain over the past month, while remaining down 33.5% year to date.
ADA Must Reclaim $0.26–$0.28 Before Breakout Attempt
Andreou’s bullish scenario hinges on Cardano holding its current demand zone and reclaiming the $0.26–$0.28 range. A recovery above this resistance zone would put $0.2910 in focus as the next major breakout level.
A break above $0.2910, followed by a successful retest, would open the door to further gains. Andreou identifies $0.3206 and $0.3698 as subsequent price targets, with $0.4277 marking another resistance level ADA must overcome.
The analyst’s chart projects a potential advance to $0.4834. From the chart’s reference price of $0.2354, this target represents an increase of approximately 105%.
The bullish projection hinges on Cardano holding its demand zone, recovering intermediate price levels, and breaking through the identified resistance areas. These milestones define the path toward the projected target.
Losing $0.22 Exposes Lower Support Levels
Meanwhile, the immediate risk to Andreou’s outlook is a decline below $0.22. His chart identifies $0.2278 as the 0.618 Fibonacci level, making this area a critical test for buyers.
A breakdown below this zone puts the $0.2110 Fibonacci level in focus as the next support. Further selling pressure would shift attention to the $0.19–$0.20 support zone. Such a decline would invalidate the higher-low setup and delay the projected recovery.
For now, Cardano next move hinges on buyers defending the $0.22–$0.24 demand zone amid the recent price decline. A recovery toward $0.26–$0.28 would strengthen the bullish outlook, while a break below $0.22 would expose ADA to further losses.
What Other Analysts Say About ADA’s Next Move
Meanwhile, analyst More Crypto Online also warned that Cardano could fall to another low before staging a sustained recovery. However, a pullback may also create an opportunity for ADA to resume its rally.
The analyst identified $0.315 as a key resistance level, with a breakout opening the way toward $0.405 and strengthening the bullish outlook.
On the downside, ADA needs to hold the $0.16–$0.215 support zone to preserve its recovery prospects. A drop below $0.16 would significantly weaken the bullish scenario and increase the risk of further losses.