Cardano is currently hovering around the lower boundary of its descending channel, near 0.40 on the 2-day chart. Historically, this area has served as a strong support zone, and recent price action suggests buyers are stepping in to defend it once again.
The combination of support holding and rising volume hints that early reversal momentum could be forming. When these signals align, it often points to the start of a potential trend shift.
If the bounce continues, the next key price targets to watch are: 0.51 → 0.68 → 0.95 → 1.25 → 1.60
These levels are often where experienced traders accumulate, taking advantage of low sentiment and hesitation in the market. Cardano’s overall structure remains intact as long as 0.40 support holds strong.