Cardano (ADA) Bulls Eye Breakout Above $0.228 Resistance

Cardano's (ADA) recent price action suggests a potentially bullish structure on smaller timeframes, according to More Crypto Online. The ADA token may have completed a five-wave advance from its August 31 low, creating a possible bullish 1-2 setup despite the recent rejection from the $0.228, $0.241 resistance zone.

The current pullback is being tested by ADA's support within the $0.197, $0.214 range. If the token holds this level, it could establish a foundation for a potential third wave higher as buyers attempt to regain control of the short-term trend.

On the broader four-hour chart, Cardano initially rallied strongly from around $0.175 before reaching a late-August peak near $0.260. The sharp advance was followed by a significant correction toward $0.190, after which buyers briefly pushed the price back toward $0.230.