Cardano Price Shows Seller Exhaustion Above $0.57 — Bullish Divergence Signals Rally

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So, Cardano… the cryptocurrency that has been through quite the drama lately. Just like that friend who always manages to get into a mess, Cardano has been aggressively sold off over the last few months. After hitting a glorious high of over $1 back in March (can you believe it?), it’s now been caught in a rather dramatic 50% crash, sending its price tumbling back toward the $0.57 level. But hey, there’s a twist — the sellers are getting *tired*. Exhausted, even. 🙄 And as they take a breather, Cardano might just be gearing up for a comeback. Seriously, there’s a bit of a plot twist here. If that $0.57 level holds, we might see some seriously bullish vibes. 💪

Cardano Breaking Out Of Descending Triangle (Sounds Dramatic, Right?)

And now, for the pièce de résistance — the descending triangle. Oof. If you’ve been following Cardano, you’ve probably seen this triangle hanging around like the most predictable plotline. The poor altcoin found itself trapped inside a descending triangle (yawn), and it’s been trading within it for months. According to crypto analyst melikatrader94, this has basically meant a whole lot of suppressed price action, while the altcoin tried (and failed) to break free after the March rally. Basically, it was like a bad reality TV show that just kept dragging on. 🙄

But hold your horses, because it looks like Cardano is finally waking up. 🚀 A bullish divergence has appeared on the chart, which basically means the sellers are starting to run out of energy (like a phone with 1% battery). Buyers are starting to pick up the slack, and support is now holding above that crucial $0.57 mark. The bulls are putting up a fight! If this continues, we could see a little lift-off. 🚀 The target? Well, for now, it’s somewhere around the $0.67-$0.70 range. Conservative? Yes. But if we hit those numbers, we’ll know the bulls are starting to take charge.

The Bearish Thesis For ADA (Spoiler Alert: It’s Not All Sunshine & Rainbows)

But, wait. Just when things were starting to look up, here’s the plot twist you weren’t expecting: the bearish scenario. Yes, there’s always a chance that things might not go as planned. If Cardano loses that crucial $0.53 support, well… it’s game over. This level has been strong so far, but if the bears manage to break through, the entire setup could fall apart. And we’re not talking a minor setback — we’re talking a deeper dive into the descending triangle. Ouch. 🚨

Melikatrader pointed out that if $0.53 crumbles, we can expect the price to slide even further, possibly widening the triangle and sending targets lower and lower. I mean, who needs drama when we’ve got a price breakdown on the horizon, right? 😬

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2025-07-07 09:42