Cardano (ADA) doubled in value between late June and early October, rising from $0.139 to $0.282, before dropping nearly 20% in two days to $0.224. The token bounced off a key support zone between $0.224 and $0.236, where the 200-period moving average, the 50-day moving average, and the daily Kijun converge, and is now trading around $0.253 with a market cap of $9.5 billion. If the resistance zone between $0.253 and $0.265 is reclaimed, two bullish targets are identified at $0.28 and $0.30, representing gains of 11% and 19% respectively. Conversely, a daily close below $0.224 would open the door to a deeper correction toward $0.21, where another technical confluence awaits.
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