Cardano ($ADA) has staged an impressive recovery, rising from sub-$0.60 levels to currently trade around $0.735. The daily chart shows the price holding above the 9-day and 21-day EMAs, while the RSI just hit 71.07, indicating strong bullish momentum. A breakout above the $0.7203 resistance level confirms trend reversal and sets the stage for further gains.
ADA/USD 1-day chart - TradingView
The next major resistance lies near $0.8475 — ADA’s April high. However, short-term rejection just under $0.75 signals the market is testing supply zones.
The 1-hour chart paints a different picture — ADA is facing resistance and currently correcting after failing to stay above the $0.74 area. The RSI sits at a neutral 45.34, suggesting reduced bullish energy. Price is also moving slightly below the 9- and 21-EMAs, which could lead to a dip toward the $0.7203 support.
ADA/USD 1-hour chart - TradingView
That said, as long as ADA holds above $0.72, the uptrend remains intact. A reclaim of $0.75 could trigger another breakout with $0.80+ in sight.
Cardano is gaining bullish traction, but short-term charts show early signs of exhaustion. If the $0.7203 level holds firm, ADA could consolidate before attacking the psychological $1 resistance again. A clean breakout above $0.75 would confirm bullish continuation, with $0.8475 the next major target.
