Cardano price is around $0.19 after another weak session, but ADA is approaching a price area that could determine its next larger move.
More Crypto Online, a widely followed technical analysis account known for detailed Elliott Wave and Fibonacci-based market analysis, is watching a resistance zone between roughly $0.195 and $0.204.
Its latest Cardano chart shows ADA bouncing after reaching support around $0.1824, but the analyst warned that this reaction has not yet confirmed a market bottom.
That distinction is important.
What you'll learn 👉
ADA Price Has to Clear This Resistance First
The chart identifies three Fibonacci retracement levels from the latest decline:
- 38.2% retracement at $0.1953
- 50% retracement at $0.1995
- 61.8% retracement at $0.2039
Together, they form the main resistance zone ADA now needs to overcome.
With Cardano trading near $0.19, the first level is only around 2%-3% above the current price.
But reaching resistance and breaking it are very different things.
More Crypto Online argues that a clear move through the entire $0.195-$0.204 zone would make the recovery more convincing.
The next target would then be around $0.209.
Above that, the chart identifies a much larger resistance level near $0.2302.
From approximately $0.19, a move to $0.23 would represent upside of about 21%.
But Cardano Has Not Confirmed a Bottom
ADA’s initial bounce started from approximately $0.1824, which corresponds with another 61.8% Fibonacci level on the larger structure.
Below that, the next notable downside area is around $0.1617.
That means failure to reclaim $0.195-$0.204 could leave Cardano vulnerable to another test of $0.182, and potentially deeper levels if that support breaks.
This is also why the current 1.5% daily decline does not necessarily invalidate the setup.
ADA is still trading between support and the resistance cluster.
The bigger signal will come when price exits that range.
Read also: Cardano Price Prediction For November: The Key Levels To Watch
Cardano Price Could Be Near a Decision Point
For now, approximately $0.195-$0.204 is the area to watch.
Breaking above it would strengthen the case for $0.209 and eventually $0.23.
Another rejection would keep the recent bounce looking corrective and place $0.182 back in focus.
So while Cardano may be close to a bigger move, the chart does not yet tell us which direction will win.
ADA bulls still need to prove that the recovery can survive its first serious resistance test.
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