Nick Valdez Reveals Key Entry Price for Cardano Longs

Nick Valdez, Chief Crypto Strategist at Verified Investing, has identified $0.21 as an attractive entry price level for a long position on Cardano (ADA).

“I like a long on ADA at $0.21,” Valdez stated in a recent post on X.  The analyst’s entry level aligns with a key Fibonacci retracement zone on the daily ADA/USD chart, which places the 0.5 retracement level at approximately $0.21057.

The chart also shows an ascending trendline connecting higher lows since August 17, suggesting $0.21 is an important area to watch if ADA pulls back further.

Cardano Price Rebounds After $0.2159 Dip

CoinMarketCap data shows Cardano trading at $0.2314, up 5.27% over the past 24 hours. The recovery follows a dip to $0.2159 on Thursday before buyers pushed the price higher.

Despite the daily rebound, ADA remains down 3.75% over the past week. However, the token has gained 18.5% over the past month, indicating that it has maintained much of its recent recovery.

The daily chart shows ADA pulling back after reaching a recent high near $0.28 in early October. The token is now trading above the $0.21 Fibonacci level, which coincides with the ascending trendline extending from the August low.

Why $0.21 Matters for ADA

The $0.21 level is notable because it combines a Fibonacci retracement zone with an ascending trendline that has supported ADA’s recovery in recent months.

The chart marks the 0.5 Fibonacci retracement at $0.21057, while the lower boundary of the measured move sits near $0.13823. The upper reference point is approximately $0.28291.

If ADA declines toward $0.21, the area becomes a potential entry zone for traders watching the trendline and Fibonacci confluence. However, the price would need to hold that region to preserve the setup.

On the upside, ADA would first need to recover toward the $0.24 to $0.26 area, where it traded before its latest pullback. A move toward the chart’s $0.28 reference level would put the recent high back in focus.

ADA Could Rally 105% If It Holds Key Support

Notably, analyst Giannis Andreou recently pointed out that the $0.22–$0.24 price zone that Cardano (ADA) is testing could help the token recover. Specifically, he noted that ADA needs to stay above $0.22 and break through the resistance zone between $0.26 and $0.28 to sustain its recovery.

If ADA rises above $0.2910, the next targets are $0.3206, $0.3698, and eventually $0.4834. Reaching $0.4834 would represent a 105% gain from the $0.2354 reference price used in the analysis. However, if ADA falls below $0.22, it could drop toward $0.2110 or even the $0.19–$0.20 range.

This outlook aligns closely with Nick Valdez’s view that $0.21 is an attractive level to open a long position in ADA.