Cardano looks like it’s heading toward a critical moment on the chart. After weeks of steady declines, ADA price is trading around $0.63 and inching closer to what could be its rock-bottom support level, the $0.54 zone highlighted by Analyst Ali.
That’s not just another line on the chart. Historically, $0.54 has acted as a strong rebound area where long-term buyers tend to step in.
Ali’s latest chart shows a clean structure between three key levels: resistance at $0.87, mid-range at $0.68, and that crucial lower support at $0.54. The projection is clear: a possible dip into that range before ADA price begins carving out a double-bottom pattern that could fuel its next recovery phase later this year.
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What the Cardano Chart Is Telling Us
On the 12-hour timeframe, ADA’s market structure is still bearish, but it’s starting to show signs of exhaustion. Every new low is attracting stronger buying interest, and that’s a common early signal of a potential bottom forming.
The $0.54 level has been repeatedly tested since January 2024, and each test has unleashed a vicious bounce within days or weeks.
Ali’s chart suggests the same might happen again. If ADA price revisits that level, the setup could turn into a textbook “W” reversal pattern, one of the cleanest signs of a trend shift. The first target after that rebound would be $0.68, with the next major resistance zone sitting around $0.87.
Why $0.54 Matters So Much
There’s a psychological aspect to this level. Traders who’ve been following Cardano for a while know that $0.54 has been a major accumulation zone. It’s where smart money tends to buy while retail panic-sells.
On-chain data supports that too, large ADA holders have been adding to their positions throughout the latest correction, suggesting confidence that the market might be close to bottoming out.
If ADA holds above this range and manages to reclaim the $0.68 mark, it could shift the entire market narrative back toward optimism just in time for Q4.
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ADA Price Short-Term Outlook
Cardano’s price action right now is all about patience. The path to recovery might not be instant, but the setup looks promising.
If ADA price dips once more into $0.54 and finds solid demand, a strong rebound could follow. However, if that level breaks, traders will likely look toward $0.50 as the next psychological floor.
Everything is centered on that $0.54 area, the price which could once more decide whether Cardano’s next big move starts with a quiet bounce or a stiffer shakeout. Either scenario, it’s a crossroads to watch closely.
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