![Will Cardano (ADA) Break $1 Before Bitcoin Halving?](https://captainaltcoin.com/wp-content/uploads/2023/10/Copy-of-P2P-Review-18-1.png)
According to crypto analyst Crypto Simon, Cardano (ADA) is gearing up for an important price movement as it challenges the $0.4667 support level. Reflecting on Cardano’s recent price journey, Simon noticed ADA bounce off resistance at $0.6864 to form an equal high before descending down.
Now trading around $0.4667 demand, Cardano is showing signs of attempting to break this level for more upside. If price holds support here, Crypto Simon sees ADA ascending to challenge overhead supply levels.
![](https://captainaltcoin.com/wp-content/uploads/2024/01/image-793-1024x403.png)
However, if the $0.4667 support fails to hold, Simon has also mapped out bearish possibilities. The first is a bullish rebound from a lower “Order Block” around $0.4293. However, a drop below this secondary support could signal further bearish continuation for Cardano.
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Show more +Traders will be closely monitoring if Cardano can maintain the $0.4667 level over the coming days and weeks. A successful defense may allow bulls to regain control, while a breakdown could open the doors to more downside for the Layer 1 blockchain asset. Crypto Simon and other analysts outline the bullish and bearish possibilities around this pivotal price level.
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