cardano

Widely followed crypto analyst and AltCryptoCast founder Sjuul Follings has highlighted a key condition Cardano must meet to potentially establish a fresh higher high.
Notably, Follings described #Cardano as having one of the clearest bullish market structures among major cryptocurrencies. His accompanying chart illustrates this pattern, while he stressed the importance of defending ADA’s latest higher low to sustain the upward momentum.
Cardano’s Bullish Structure Hinges on $0.22 Support
The daily ADA/USDT perpetual chart on Bybit shows Cardano forming a series of higher highs and higher lows since June 2026, reflecting a sustained upward trend.
Notably, ADA established successive higher highs after pulling back to higher lows in mid-June, early July, and early August. The cryptocurrency subsequently climbed to a higher high near $0.25 on August 20 before retracing below $0.20.
This pattern suggests that buyers have consistently stepped in at progressively higher price levels, helping ADA preserve its bullish market structure.
However, Cardano must maintain this pattern to keep the uptrend intact. Follings emphasized that bulls need to defend the latest higher low near $0.22. Holding this support area could provide a foundation for another upward move.
A Fresh Higher High Could Follow
According to Follings, successfully defending the $0.22 support area could allow Cardano to resume its upward trajectory and establish another higher high. However, he did not specify a price target for this potential move.
Nevertheless, another higher high would reinforce the existing bullish structure and suggest buyers continue to push the market higher.
Conversely, a decisive break below the recent higher low could weaken the pattern and expose ADA to a deeper pullback. Therefore, the token’s reaction around $0.22 could help determine whether the uptrend continues or bearish pressure intensifies.
ADA Sees Conflicting Price Predictions
Meanwhile, Cardano continues to trade around the $0.21 support level amid heightened market volatility. At press time, ADA trades at $0.2169, down 0.7% over the past 24 hours.
Notably, analysts Ali Martinez and Tony have warned of further downside risks. Martinez has identified $0.17 as a potential downside target, while Tony believes ADA could fall to $0.19.
Despite these bearish projections, a recent analysis by The Crypto Basic suggests that Cardano could reverse its multi-year decline and rally toward $0.594.
These differing outlooks highlight the uncertainty surrounding ADA’s next move. While Follings’ analysis points to the importance of defending the bullish structure, other analysts have warned that continued selling pressure could push the cryptocurrency lower.
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Cardano is in the news again, but this time the focus is not on price movements. The Cardano Community Treasury has received a proposal to allocate 22 million ADA (approximately $5 million) to establish the Cardano Strategic Copper Reserve. This proposal, put forth by Toto Finance, a company that specializes in tokenizing physical commodities, aims to acquire physical copper that meets exchange-grade standards, which will be stored in a COMEX-approved warehouse near New Orleans. The proposal includes the following structure: 1. Asset: Physical copper, represented as CuTT tokens, with 1 token equating to 1 verified pound. 2. Timeline: Hold the asset for 18-24 months, sell over a subsequent 12 months, and return proceeds by month 36. 3. Cost Breakdown: Approximately two-thirds of the budget for copper acquisition, and about one-third for storage, insurance, audits, and oversight. In terms of financial projections, if the entire budget is utilized and the price of ADA remains stable, the price of copper would need to increase by approximately 49.4% for the project to break even. The projections suggest a purchase price of $6.73 and a selling price of $10.06, with an anticipated annual increase of 30%—equating to 69% over 24 months. However, as the founder Monty Metzger has pointed out, commodities can also decrease in value. This initiative would use more than half of the remaining withdrawal allowance of Cardano. The governance vote for this proposal will close on November 15. This situation poses a significant test for Cardano’s on-chain governance. Expanding into real-world assets like copper may serve as a hedge against cryptocurrency volatility, enhancing the tangible value of the treasury. However, leveraging treasury funds for a commodity that carries considerable risk and a 50% break-even threshold raises concerns. There are questions about whether Cardano is at the forefront of innovation in real-world assets or if the treasury should concentrate on decentralized finance and supporting developer growth. ADA holders are encouraged to express their opinions by voting: YES for real-world assets or NO for risk.