Cardano ADA Eyes $0.84 Rebound as Bulls Defend Critical $0.61 Support

Cardano's ADA is currently at a pivotal juncture, with bullish traders targeting a rebound to $0.84 if the cryptocurrency can maintain its critical support level at $0.61. Despite a recent 3.08% dip to $0.6218, market analytics indicate a rare convergence of buying interest from both retail and institutional investors. Technical indicators, including a 14-day RSI of 36.62, suggest ADA is oversold, presenting a potential reversal opportunity. The outcome of this support battle could determine ADA's near-term trajectory, with a successful defense potentially paving the way for significant upside.

Cardano Bulls Target $0.84 Amid Key Support Battle

Cardano's ADA faces a critical test at the $0.61 support level as bullish sentiment converges across retail and institutional traders. The cryptocurrency dipped 3.08% to $0.6218, but market analytics reveal rare alignment in buying pressure between smart money and retail investors.

Technical indicators suggest a potential reversal opportunity, with the 14-day RSI at 36.62 signaling oversold conditions. A successful defense of the $0.61 zone could pave the way for a 35% rally toward $0.84, though the asset remains constrained within a broader descending channel.

Derivatives markets show cautious Optimism despite falling open interest, with positive funding rates indicating lingering bullish conviction. The 90-day Spot Taker CVD maintains buy dominance, reinforcing the constructive outlook if price action respects current support levels.

Cardano Nears Key Support as Market Eyes Potential Reversal

Cardano's ADA approaches a critical juncture after $50 million in long positions were liquidated near the $0.60 support level. The altcoin's oversold RSI conditions and Leveraged flush suggest capitulation may be concluding—a historical precursor to robust rebounds.

Market-wide altcoin exhaustion contrasts with isolated small-cap strength, creating what some traders interpret as a final accumulation window before broader recovery. Alphractal's liquidation heatmap reveals concentrated pain at current levels, where fear-driven entries often precede sustained rallies.

The divergence between battered large caps and overheated microcaps mirrors past cycle inflection points. For ADA, this technical reset coincides with growing speculation that patient holders may soon be rewarded.