Cardano is cooling off after a recent rally push, with the price now sliding into a corrective phase that could either set up the next leg higher or unwind the short-term bullish case entirely.
The pullback is not random. It’s unfolding in a recognizable pattern, and where it stops will matter for every retail ADA holder who bought the dip over the past few weeks.
The Structure Is Still Holding, Just Barely
As More Crypto Online posted on X, the current decline remains corrective in nature and is developing across three waves. The key claim is that this is not the start of a new downtrend but a retracement within a broader bullish setup.
“$ADA Cardano is currently in a pullback following the recent rally attempt, while the broader structure still allows for the preferred white scenario as long as the upper micro support region continues to hold.”
The upper micro support band sits between $0.257 and $0.249. That range is not arbitrary. Looking at the 4-hour chart from Kraken data shared by More Crypto Online, the 50% retracement from the recent swing sits at $0.263, the 61.8% Fibonacci level is at $0.257, and the 78.6% level drops to $0.249. Those three levels converge into the exact zone More Crypto Online identifies as critical.
That Fibonacci confluence is a detail most ADA coverage this week has not surfaced. Price is essentially sitting on a cluster of retracement levels, not just one arbitrary support line.
What Happens If It Holds
According to More Crypto Online on X, the preferred scenario calls for another upside extension toward the blue resistance region, which runs from roughly $0.30 to $0.35. Within that zone, specific resistance levels are stacked at $0.299, $0.318, $0.329, and $0.349.
The 100% Fibonacci extension from the current wave count on the chart marks $0.299 as the first meaningful ceiling. Above that, the 123.6% extension sits at $0.318 and the 138% at $0.329, with the 161.8% extension reaching $0.349. The upside targets are not guesses. They’re built into the wave structure.
Confidence in the bullish case, More Crypto Online noted, remains relatively low at this stage. That’s an honest read. The structure allows for higher prices but doesn’t guarantee them.
The Number That Breaks Everything
There’s a lower support zone at $0.233 to $0.228. More Crypto Online’s risk scenario, as posted on X, is direct: a sustained break below the current upper micro support would weaken the short-term bullish interpretation and raise the probability of a retest down there.
The 78.60% retracement at $0.233 and the 88.70% level at $0.228 form that second support cluster on the chart. If the three-wave corrective structure fails to complete and price slices through $0.249, those are the next levels to watch.
For a retail ADA holder currently positioned around $0.26, this zone matters. Holding above $0.249 means the trade thesis stays alive. Breaking below $0.228 with momentum changes the picture.
Price at time of writing is near $0.256, sitting just at the upper edge of the critical support band.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries significant risk. Always conduct your own research before making any investment decisions.
