- Cardano is consolidating between $0.70 and $0.77, with a breakout above $0.7620 potentially driving prices toward $0.80 and beyond.
- If ADA fails to break resistance, it may retest $0.70, determining its next major move.
Cardano (ADA) is on the verge of a crucial move as bullish momentum builds. Currently trading at $0.7710, ADA has gained 2.59% in the last 24 hours, signaling increased interest from investors. With price action consolidating between $0.70 and $0.77, traders are eyeing a potential breakout that could send ADA soaring.
Cardano Key Resistance and Support Levels
In the short term, ADA faces immediate resistance at $0.7550, with a decisive breakout point at $0.7620. A sustained move above this level could push prices toward $0.80 and beyond. On the downside, $0.7380 serves as near-term support, with a stronger base at $0.7200.
From a medium-term perspective, ADA’s ability to stay above $0.70 is crucial. If bulls maintain control, we could see a rally toward $0.80 and $0.85 in the coming weeks. However, a break below this key support could expose ADA to levels around $0.6791 or even $0.65.
In the long-term outlook, ADA’s strong support rests at $0.60, while major resistance levels loom at $1.00 and $1.15. If the bullish trend persists, Cardano could be on track to challenge the $1 mark in 2025.
Technical Indicators: What’s Next for ADA?
- RSI (Relative Strength Index): ADA remains neutral, suggesting a balance between buyers and sellers.
- Moving Averages: The 50-day and 200-day EMAs are acting as resistance. A breakout above these moving averages would confirm sustained bullish momentum.
Breakout or Pullback?
ADA is at a pivotal moment. If it breaks above $0.7620, a surge toward $0.80 and $0.85 is highly likely. However, failure to clear resistance could lead to a retest of $0.70, which would determine the next move.
With growing anticipation, traders should closely monitor volume and market sentiment to confirm ADA’s next major price action. Will Cardano finally break free and aim for $1, or will sellers regain control? The coming days could be decisive.
