Cardano is on a positive price trajectory and experiencing a surge in value. The broader market trend is shifting from bearish to bullish, while major crypto coins like Bitcoin and Ethereum struggle to secure a reversal. In the past 24 hours, ADA has climbed by 1.13%, though it remains down 3.76% over the past week.
Currently, the token is trading at $0.8394. Market activity surged, with 24-hour trading volume hitting $554.9 million, a 63.59% increase. The current market capitalization is $1.17 billion, reflecting renewed investor interest.
The price movement suggests that traders are watching ADA closely as it hovers near key support levels. The recent consolidation appears healthy, allowing the market to handle selling pressure while maintaining a positive trajectory. Investors seem prepared for potential breakout opportunities if bullish momentum continues.
Also Read: Cardano Price Forecast 2025: Can ADA Break $1 and Target $1.84?
According to crypto analyst Ali, Cardano’s 4-hour chart shows ADA holding above the 0.618 Fibonacci retracement level at $0.7826. It is approaching a significant resistance zone at $0.88, which coincides with the 0.786 Fibonacci level. ADA is moving within a rising parallel channel and holding above the channel’s lower boundary. This pattern suggests that the short-term bullish trend is still intact.
A decisive move above $0.88 could pave the way for further gains toward $1.10, followed by an extension to $1.23, based on Fibonacci projections. Failure to break this level of resistance can send it downwards toward a test of lower supports at or below $0.7826 or $0.7212. A break below the rising channel would break the bull argument and may attract a steeper correction.
Weekly signs consolidate ADA’s bullishly biased attitude. MACD crossed bulls favorably, and now the MACD line is above the signal line. It implies rising momentum is picking up. Rising green histogram bars further confirm the positive trend.
The RSI at 54.11 is above the neutral 50 midpoint and suggests moderate bull strength. Moreover, it is above its moving average of 51.43 and is bullish for further upward movement. On a longer-term basis, sustained RSI values above 50 have caused stronger rallies later. Along with MACD signals, these indicate ADA making further advances if it crosses the vital $0.88 resistance level.
This places ADA at a pivotal juncture. Traders are waiting to see if the token can confirm the next leg of its rally, while technical momentum favors bulls aiming for higher levels.
Also Read: Cardano (ADA) Price Eyes $1.20 Breakout as ETF News Boosts Sentiment
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