Cardano Holds Key Support at $0.36 As Solana Bridges Unlock EVM Liquidity

1. Solana liquidity can reach Cardano through existing bridges, with Base acting as a key routing layer.
2. Cardano (ADA) is testing long-term support near $0.36, signaling potential for a short-term bounce.
3. Technical indicators suggest a corrective phase may be ending, opening the door for staged recovery toward $0.45–$0.50.

The growing push for interoperability in the crypto ecosystem is opening new paths for liquidity between Solana and Cardano. According to blockchain expert Dave, while no native Solana-to-Cardano bridge exists yet, assets can flow via Ethereum or Base using existing infrastructure.

Solana tokens can move into the EVM ecosystem through the new Solana–Base bridge powered by Chainlink CCIP. From there, bridges such as Wanchain and ChainPort can transfer wrapped assets onto Cardano, effectively creating a workable cross-chain route.

Base is the routing and liquidity layer in this system. The team has been working to make cross-chain transactions easier. Finally, ERC-20 tokens of ADA, such as ‘cbADA’ held by Coinbase, are helping the Cardano chain integrate better within the EVM ecosystem.

These solutions do not yet allow Cardano to return to its original form. However, Cardano may then become a bridge on its own and bypass others if Chainlink integration is smooth, thus improving Cardano’s position in a tough market that is cross-chain.

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.

Also Read: Cardano (ADA) Breakout: 35% Surge Looms Over Market