Bitcoin News Today: Cardano Struggles to Break $1 as Bitcoin Weakness Weighs on Altcoin

Cardano’s price action has shown signs of weakness following its inability to break past the $1 psychological barrier, reflecting broader market sentiment driven by Bitcoin’s recent decline. ADA, currently trading at $0.8337, is consolidating within a key range bounded by $0.80 support and $0.85 resistance. The failure to hold above $1 has raised concerns among traders, as it suggests that the altcoin remains highly sensitive to movements in the broader cryptocurrency market [1].

Immediate resistance lies at $0.8475. A breakout above this level could pave the way for a retest of $0.90 and eventually $1.00. However, if ADA fails to reclaim this level, it may face renewed pressure to drop toward $0.80–$0.81, which aligns with the 50-day simple moving average. A breakdown below this support zone could send the price toward $0.72, the 200-day SMA, with further downside potential if the bearish trend continues. Major support levels to watch include $0.62 and $0.55 [1].

The Relative Strength Index (RSI) currently stands at 48.35, indicating neutral to bearish momentum after rejecting the 60 level. This suggests that bullish traders are on edge, waiting for a clear direction from Bitcoin, which remains a dominant factor in ADA’s price trajectory. Given ADA’s current positioning, the broader crypto market—especially Bitcoin—is expected to play a decisive role in determining whether Cardano will break higher or experience a deeper correction [1].

In the short term, if ADA manages to hold above $0.80, it could attract renewed buying interest, potentially setting the stage for another run at the $0.90–$1.00 zone. A clean breakout above $1 would signal a significant shift in momentum and could open the door for a rally toward $1.20 in the medium term. However, if the sell-off intensifies in line with Bitcoin’s performance, the next key downside targets are $0.72 and $0.62. Maintaining a position above $0.72 will be critical in preventing a more substantial correction [1].

Cardano’s price movement reflects the ongoing uncertainty across the cryptocurrency market. While the network continues to show strong underlying fundamentals, short-term performance remains closely tied to Bitcoin’s direction. Traders are advised to keep a close eye on the $0.80 support level, as a breakdown could trigger panic selling, whereas a rebound may provide ADA with another opportunity to regain momentum toward the highly anticipated $1 level [1].

Source: [1] Cardano Price Pulls Back After $1 Rejection – Here are Important ADA Targets (https://coinmarketcap.com/community/articles/68ada79192491e16ebd47959/)