Cardano Holds Pattern Below $0.404 as Market Eyes Breakout Level

⬤ Cardano’s price action stayed range-bound as ADA/USD held below the crucial $0.404 threshold. Breaking above this level represents the first signal that bulls might regain control, though current structure suggests the market remains in correction mode rather than confirmed recovery.

⬤ ADA currently hovers around the mid-$0.35 range after pulling back from recent highs. Key Fibonacci levels include the 50% retracement near $0.377, the 61.8% level around $0.365, and deeper support at $0.349. Trading below these markers shows limited recovery momentum, though ADA hasn’t broken lower support zones—pointing to stabilization rather than fresh selling pressure.

⬤ A potential bullish scenario exists but needs confirmation through reclaiming higher resistance levels, starting with $0.404. The current wave structure keeps the broader pattern corrective, with lower highs defining market behavior. Multiple technical zones highlight the uncertainty traders face in this phase.

⬤ The $0.404 level matters because it frames short-term expectations for direction and volatility. Staying underneath keeps Cardano in defensive territory, while clearing it could shift the immediate narrative. Until momentum confirms a clearer direction, ADA remains sensitive to both internal price action and broader crypto market conditions.