Cardano Defends $0.36 Support as Solana Bridges Tap EVM’s Liquidity Pool

Cardano's price floor holds firm while Solana's infrastructure gambit reshapes the liquidity landscape.

The Support Line in the Sand

Cardano isn't budging. The $0.36 level has transformed from a simple price point into a psychological battleground, with buyers stepping in each time sellers test the waters. This isn't just technical analysis—it's a signal of persistent, if cautious, conviction in ADA's long-term roadmap.

Solana's Bridge Play

Meanwhile, Solana is executing a classic flanking maneuver. Its cross-chain bridges are systematically unlocking value trapped within the sprawling Ethereum Virtual Machine ecosystem. This isn't about coexistence; it's a direct liquidity grab. By offering a faster, cheaper on-ramp, Solana positions itself as the pragmatic alternative for developers and capital seeking efficiency over dogma.

The move highlights a market maturing beyond tribal allegiances. Liquidity, ever the opportunist, flows toward utility and yield. While maximalists debate philosophical purity, these bridges are doing the real work: moving assets and fueling the next cycle of application growth—on whichever chain offers the best terms.

One cynical take? The entire crypto finance sector sometimes feels like a grand experiment in moving money from the impatient to the patient, with technology as the compelling narrative that distracts from the volatility. Yet, beneath that noise, genuine infrastructure is being built. Cardano's steadfast support and Solana's aggressive interoperability push aren't just price action; they're the quiet, relentless work of network building. The race isn't for today's headlines, but for tomorrow's dominant settlement layer.

Cardano Holds Key Support at $0.36

ADA is currently trading at $0.3631 as it tests the lower boundary of the long-term downward channel, which has defined the MOVE since the peak in 2022.

According to technical analyst Mr. Brownstone, as long as ADA is above the prior low at $0.27, a Wave (2) low is in. This will set the stage for an upside move after a prolonged correction through the next year and into 2025.

The price is still ranging in a horizontal demand area, ranging from $0.38 to $0.40, which is also reflected in the support level of the channel. An area of great technical significance that could reverse a potential correction.

Technical Indicators Signal Potential Recovery

Taking a look at Elliott Wave Analysis for ADA, it seems like it is completing a corrective Wave (C) of a larger Wave (II). This indicates that the current downtrend may just be ending. Also, MACD is being compressed below zero but is displaying the initial signs of bullish convergence.

The volume profile indicates a strong area of trade at approximately $0.65-$0.70. It wouldn’t be an irrational target if ADA breaks out. However, ADA can only move through increments, and short-term resistances exist around $0.45-$0.50.

Historical instances of similar MACD formation at support levels of the channel resulted in multi-week rallies, and this indicates ADA is possibly embarking on a slow and incremental move higher.