Cardano has spent the last stretch carving out a base after an extended sell-off, and price action is finally starting to lean back in the bulls' favour. After putting in a long-term low, ADA is holding above the reclaimed support and slowly building the kind of structure you want to see before a recovery leg.
The thesis is simple: as long as buyers keep defending the base, I'm looking for continuation to the upside, with the primary target around the 0.22 region — the next meaningful area of interest above the current range and a solid move up from where price bottomed.
I'm not expecting a straight line. A pullback to retest support before the next push higher would be healthy and wouldn't change the bias at all. The Van Rossem hard fork sitting at its decision point is an added catalyst to keep an eye on, since it can bring volatility either way.
Invalidation: a sustained break and close below the ~0.1246 low would void the idea and tell me the bottom isn't in yet.
Not financial advice — just how I'm reading the chart.$ADA
