The When will Pi coin launch on CoinbaseCardano network's native token ADA continues its sideways movement after retreating from December highs near $1.325, with traders closely monitoring key technical levels.
ADA entered consolidation phase following rejection at psychological $1.30 level
Current trading range remains constrained below 100-hour moving average
Chart patterns suggest crucial battle between bulls and bears at $1.20 threshold
Successful breach of $1.245 resistance could signal continuation pattern
ADA Technical Setup Shows Mixed Signals
Following its recent pullback from yearly highs, ADA established temporary support near $1.117 before attempting recovery. The digital asset managed to reclaim several Fibonacci retracement levels during its rebound attempt, demonstrating underlying demand at lower valuation ranges.
Market observers note the cryptocurrency currently trades below its short-term moving average while testing descending trendline resistance. The $1.20-$1.25 zone represents critical inflection point that could determine next directional move, with order book data showing substantial liquidity accumulation in this region.
Technical analysts highlight the importance of monitoring volume patterns during these tests, as breakout attempts without corresponding trading activity often result in false moves. The Relative Strength Index hovering near neutral territory suggests neither overbought nor oversold conditions currently prevail.
Potential Scenarios for Cardano's Native Token
Should buying pressure intensify, initial upside targets include the $1.225 pivot followed by the $1.245 swing high. Sustained momentum beyond these levels could potentially reopen path toward yearly highs, though traders caution about possible supply zones at each resistance level.
Conversely, failure to hold current support near $1.15 might trigger extended correction toward the $1.12 support cluster. Market participants generally view the $1.08-$1.12 range as significant demand zone based on historical price action and on-chain metrics.
Oscillator readings currently show mixed signals, with the MACD histogram printing lower highs while remaining in negative territory. This divergence often precedes potential trend reversals, though confirmation requires price action validation.
Key levels to watch:
Support: $1.150 (immediate), $1.120 (major), $1.080 (psychological)
Resistance: $1.200 (trendline), $1.225 (pivot), $1.245 (swing high)