- Cardano price is testing key levels after breaking its ascending trendline, with $0.1995 acting as resistance.
- A break above it could push ADA toward $0.2116 and $0.2206, while a drop below $0.1859 could send it toward $0.1810.
Cardano price is trading near $0.197 after breaking below an ascending trendline on the 4-hour chart. ADA now faces a key test that could determine whether it moves toward $0.2206 or falls toward $0.1810.
The trendline had supported Cardano price since late July, with buyers pushing ADA to higher highs after each retest. However, the fourth retest ended with a break below this support.
The breakdown does not confirm that the wider uptrend has ended. ADA still needs to reclaim key levels before a stronger recovery can take shape.
Cardano Price Prediction Key Levels
The $0.1995 level is now the main resistance to watch. A 4-hour close above it could strengthen the bullish setup.
If ADA clears $0.1995, the next target sits around $0.2116. A move above that level could put $0.2206 within reach. The bearish scenario would strengthen if ADA closes below $0.1859. In that case, $0.1810 could become the next support level.
For now, $0.1995 and $0.1859 are the key levels to watch. A break above the first could support a move higher, while a break below the second could expose ADA to further losses.
ADA Faces Bearish Divergence
The technical picture is not entirely bullish, as ADA’s momentum oscillator has formed a bearish divergence. While Cardano price continued to make higher highs, the oscillator recorded lower highs, suggesting that buying pressure may be weakening.
The recent trendline breakdown adds further caution, meaning ADA may need to reclaim $0.1995 before the bullish setup becomes more convincing. If the price continues to move sideways between $0.1859 and $0.1995, however, the short-term direction could remain unclear.
Cardano ETF Timeline Adds Another Catalyst
Cardano also has an important regulatory development to watch.
The six-month seasoning period linked to CME’s ADA futures ended on August 9. Grayscale has a pending spot ADA ETF filing under the ticker GADA. If the filing moves forward after the seasoning period, the SEC could enter a review window that points toward a possible decision around October 23.
However, this is not a confirmation that the ETF will be approved. The date should be viewed as a potential regulatory milestone rather than a guaranteed approval deadline. ETF developments could still influence ADA sentiment in the coming weeks.
Cardano Liquidations Show Elevated Risk
Recent liquidation data also points to increased risk for leveraged traders. Long liquidations reached about $570,000 over 24 hours, compared with roughly $169,000 in short liquidations. Total liquidations during that period stood near $739,000.
The figures show that long positions have faced greater pressure during recent price declines. This could make the $0.1859 support especially important. A break below that level could trigger further selling if leveraged positions are forced to close.
Cardano Price Outlook
Cardano price remains at a key technical point after the ascending trendline break.
A 4-hour close above $0.1995 would strengthen the bullish outlook and confirm that buyers are regaining control after the trendline break. ADA could then move toward $0.2116, with $0.2206 becoming the next major target if buying pressure continues.
On the downside, a close below $0.1859 would weaken the current setup and expose ADA to a potential move toward $0.1810. Until either level breaks, ADA could continue consolidating within the range, leaving the next 4-hour close important for confirming its short-term direction.
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Disclaimer:
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry risk, and readers should conduct their own research before making any investment decisions.