- Cardano must hold $0.249 support to maintain recovery hopes
- Analysts see potential upside toward $0.30 and $0.35
- FOMC minutes could influence ADA short-term direction
Cardano remains under pressure after last week’s sharp correction, but traders are still monitoring a key support region that may determine the next major move. ADA traded near $0.251 on Monday, down 1.70% over the past 24 hours. Despite weak momentum and mixed derivatives data, analysts believe Cardano could still attempt another recovery if buyers defend the current support zone.
Cardano Support Zone Keeps Recovery Structure Intact
According to More Crypto Online, the latest Cardano pullback still appears corrective rather than impulsive. Analysts noted that ADA is moving within a three-wave decline, which often signals temporary weakness inside a broader recovery structure.
The most important area now sits between $0.257 and $0.249. As long as Cardano holds this upper micro support region, analysts believe the preferred bullish scenario remains valid. In that case, ADA could attempt another move toward the next resistance levels between $0.30 and $0.35.
Several resistance zones remain in focus. Analysts highlighted $0.299, $0.318, $0.329, and $0.349 as the next upside targets if momentum returns. However, confidence in the bullish setup remains limited because price action still lacks strong buying pressure.
Cardano also continues to trade below the $0.260 level after falling more than 10% during the previous week. Weak on-chain activity and uncertain derivatives positioning have added to the cautious market outlook.
Cardano Risks Deeper Correction if $0.249 Support Fails
The bearish scenario becomes stronger if Cardano loses the current support region. Analysts warn that a sustained breakdown below $0.249 could expose lower support levels near $0.233 and $0.228.
That would weaken the short-term bullish interpretation significantly. Traders are also watching macroeconomic events closely, particularly the upcoming FOMC minutes release on May 20. Any shift in broader market sentiment could influence Cardano and the wider crypto market.
Technical indicators currently suggest fading momentum. However, ADA has not yet broken its most important short-term support. The broader Cardano structure still allows for another upside extension if buyers stabilize price action around current levels.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
