Key support levels are at $1.01-$0.90, aligning with Fibonacci retracement zones. If the correction deepens, ADA could test the 0.786 Fib level at $0.78, a strong potential buy zone. The Relative Strength Index (RSI) is trending downward, confirming reduced momentum and the likelihood of continued consolidation.
On the hourly chart, ADA is forming an ABC corrective pattern within Wave 4, following the $1.31 high of Wave 3. The price is moving within a descending channel, testing key Fibonacci support levels, suggesting the correction may soon end.
Crucial support zones include $1.01 (0.236 Fib), $0.94 (0.382), and $0.83 (0.5 Fib retracement). A deeper correction could push the price toward the 0.618 retracement at $0.70, where buying pressure is expected to intensify.
For bullish continuation, ADA must break above $1.31, signaling the start of Wave 5. Fibonacci extensions place potential targets at $1.25 (1.618), $1.47 (2.0), and $1.62 (2.272). However, if support at $0.83 fails, a steeper correction could follow, delaying the upward trend.
Stay alert to ADA’s price action as it approaches critical levels, setting the stage for its next big move.