⬤ Cardano’s price has dropped after getting rejected at wave (1) resistance, bringing ADA/USD into a newly identified micro support area on the 30-minute chart. Price is now stabilizing between $0.384 and $0.391 following this pullback. This zone represents micro support for wave (2) and is crucial for determining whether the current (1)-(2) setup holds.
⬤ ADA couldn’t maintain its upward push near the wave (1) resistance area, triggering a retracement toward lower levels. This move landed price squarely in the micro support band where we’ve seen previous intraday reactions. The zone lines up with short-term technical markers on the chart, making it relevant for the current corrective phase.
⬤ The setup clearly defines what happens next. Staying above $0.384 keeps the wave (2) interpretation alive, meaning this pullback is just a correction rather than a breakdown. But breaking decisively below $0.384 would invalidate the (1)-(2) setup entirely, bringing lower extension levels into play and signaling a shift away from the current wave structure.
⬤ This matters because short-term wave patterns often guide near-term market direction. For Cardano, how price behaves around the $0.384–$0.391 zone will likely shape short-term sentiment and volatility as traders assess whether this pullback is consolidation or invalidation. With ADA sitting at a clearly defined decision point, the reaction at micro support will probably determine the next phase of movement.
ADA Price Analysis: Cardano Tests $0.384–$0.391 Micro Support Zone
⬤ Cardano’s price has dropped after getting rejected at wave (1) resistance, bringing ADA/USD into a newly identified micro support area on the 30-minute chart. Price is now stabilizing between $0.384 and $0.391 following this pullback. This zone represents micro support for wave (2) and is crucial for determining whether the current (1)-(2) setup holds.
⬤ ADA couldn’t maintain its upward push near the wave (1) resistance area, triggering a retracement toward lower levels. This move landed price squarely in the micro support band where we’ve seen previous intraday reactions. The zone lines up with short-term technical markers on the chart, making it relevant for the current corrective phase.
⬤ The setup clearly defines what happens next. Staying above $0.384 keeps the wave (2) interpretation alive, meaning this pullback is just a correction rather than a breakdown. But breaking decisively below $0.384 would invalidate the (1)-(2) setup entirely, bringing lower extension levels into play and signaling a shift away from the current wave structure.
⬤ This matters because short-term wave patterns often guide near-term market direction. For Cardano, how price behaves around the $0.384–$0.391 zone will likely shape short-term sentiment and volatility as traders assess whether this pullback is consolidation or invalidation. With ADA sitting at a clearly defined decision point, the reaction at micro support will probably determine the next phase of movement.