Cardano Price Channels Strength, $0.86 Key to Reversal

ADAUSD’s price continues to trade inside a broad ascending channel on the 12-hour chart, maintaining its bullish structure despite short-term weakness. The lower boundary near $0.61 has acted as strong support, where buyers stepped in following the Black Friday crash.

Currently, ADAUSD hovers around $0.73 — also the 0.236 Fibonacci retracement level — which forms the immediate hurdle. A daily close above this zone could trigger the next leg up toward $0.86, a key resistance where multiple rallies were previously rejected.

If momentum strengthens beyond $0.86, ADAUSD could target $1.01 and eventually $1.12, aligning with the channel’s upper trend line. However, failure to defend $0.66 would invalidate the setup and expose the price to $0.61 and lower.

On-chain data supports this technical bias: whale accumulation is rising, and fewer ADA coins are being moved across wallets — both signals that selling pressure is easing as bullish momentum builds.