In the past day, Cardano (ADA) has seen a 14% retrace amid the crypto market\u2019s pullback. The cryptocurrency recently saw its price lose the $1 mark, descending below $0.90 on Monday morning. Despite the drop, some market watchers shared a positive outlook for ADA, asserting that a rebound to $1.30 could be around the corner.<\/p>\n
Cardano, alongside the rest of the market, ended the week with a Sunday bleeding<\/a>, registering seven consecutive red candles yesterday afternoon. The market pullback continued Monday morning, with Bitcoin (BTC) losing the $100,000 support for the first time in over a week.<\/p>\n As the market correction persisted, ADA\u2019s price lost the $0.90 support, hovering between the $0.85-$0.89 range before recovering. Almost two weeks ago, Cardano bounced from the $0.90 support to reclaim the $1 resistance.<\/p>\n During this jump, the cryptocurrency surged to its 2025 high but failed to break past the $1.18 resistance level, sending ADA into a downtrend. Since then, the altcoin has failed to turn the $1 resistance<\/a> into support, hovering between $0.95-$1.02.<\/p>\n The recent drop sent Cardano to a two-week low price and back to its end-of-year range of $0.83-$0.95. Nonetheless, the cryptocurrency\u2019s price remains above crucial levels, as some market watchers noted.<\/p>\n AMCrypto highlighted that after its 5% recovery from today\u2019s low, ADA was back to its 2-day support level. To the analyst, there is \u201cno need to panic\u201d if Cardano holds the $0.80 support zone.<\/p>\n This zone was 2024\u2019s Q1 high, and it has served as a key higher timeframe level, fueling the altcoin\u2019s rally once it has been turned into support in 2021 and late 2024. AMCrypto noted that \u201cFor alts to retest major support levels during a bull run is a good sign.\u201d<\/p>\n Other analysts shared similar predictions, suggesting that Cardano\u2019s run would be determined by its next price move. Carl Runefelt stated that \u201cdespite the market correction, ADA is still holding on to this massive bullish pennant.\u201d<\/p>\n The analyst pointed out that ADA\u2019s chart displays a 2-month bullish formation that targets $1.9 if it breaks out. However, he noted that the first target is the local top of $1.30. Runefelt explained<\/a> that \u201cif the support holds, we could see a bullish breakout at some point.\u201d<\/p>\n Meanwhile, ADA trader Sebastian considers<\/a> that Cardano needs to close the day above $0.95. He stated it \u201cwould be amazing for ADA if this last daily candle turns green\u201d and closes within the symmetrical triangle.<\/p>\nADA To Reclaim $1 Soon?<\/h2>\n