Cardano Eyes Breakout Above $0.175 as Buyers Regain Control

Cardano (ADA) is currently trading at $0.1638 after a three-day bounce off $0.1535, and momentum has shifted back in favor of buyers.

The price action suggests that ADA may be due for another attempt to break through the $0.18 level, which was rejected last week.

However, this will require clearing the resistance at $0.1751 first, a level that capped every rally this month.

A 3-hour close above $0.1751 would be a crucial sign of strength and put the $0.180 area back in play as the first target.

On the other hand, if ADA loses the support at $0.1488, it could lead to a retest of the June accumulation floor at $0.1424, which is the last structural support before the multi-year lows printed at the end of June.