Cardano (ADAUSD) Key Levels The Week Ahead 03rd March ‘25

Cardano (ADAUSD) maintains a bullish sentiment in the longer term, but recent price action is showing signs of potential weakness, as a double-top reversal pattern may be forming following its all-time high at 13,250 on December 3, 2024. The key trading level at 8,660 will be crucial in determining the next directional move.

Key Levels to Watch
Resistance Levels: 8,660 (Neckline), 8,748 (50 DMA), 9,450, 10,000
Support Levels: 7,393 (20 DMA), 6,832, 5,820 (200 DMA)

Bearish Scenario
If ADAUSD fails to break above the 8,660 neckline and faces rejection, it could confirm the double-top pattern, increasing the likelihood of a downward move. A breakdown below 8,660 could expose support at 7,393 (20 DMA), with further downside targets at 6,832 and 5,820 (200 DMA) over the longer term.

Bullish Scenario
A strong breakout and daily close above the 8,660 neckline resistance would invalidate the bearish pattern, potentially leading to a bullish continuation. In this scenario, ADAUSD could retest 8,748 (50 DMA), with further upside potential toward 9,450 and 10,000 if momentum strengthens.

Conclusion
While Cardano remains in a broader uptrend, the 8,660 neckline serves as a key pivot point. A rejection at this level could confirm a bearish double-top formation, while a breakout above it may trigger renewed bullish momentum. Traders should monitor this level closely for confirmation of the next major move.

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