Cardano (ADA) Bulls Push for Breakout — Is a Sharp Rally Next?
Source Newsbtc
Cardano price started a fresh increase from the $0.620 zone. ADA is consolidating near $0.70 and eyes more gains above the $0.720 zone.
- ADA price started a recovery wave from the $0.650 zone.
- The price is trading above $0.680 and the 100-hourly simple moving average.
- There is a connecting bearish trend line forming with resistance at $0.7180 on the hourly chart of the ADA/USD pair (data source from Kraken).
- The pair could start another increase if it clears the $0.720 resistance zone.
Cardano Price Faces Resistance
In the past few sessions, Cardano saw a fresh decline from the $0.7350 level, like Bitcoin and Ethereum. ADA declined below the $0.720 and $0.70 support levels.
A low was formed at $0.6826 and the price is again moving higher. There was a move above the $0.70 level. The price cleared the 50% Fib retracement level of the recent decline from the $0.7338 swing high to the $0.6826 low.
Cardano price is now trading above $0.680 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.7150 zone and the 61.8% Fib retracement level of the recent decline from the $0.7338 swing high to the $0.6826 low.
There is also a connecting bearish trend line forming with resistance at $0.7180 on the hourly chart of the ADA/USD pair. The first resistance is near $0.7250. The next key resistance might be $0.750.
If there is a close above the $0.750 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.780 region. Any more gains might call for a move toward $0.80 in the near term.
Another Drop in ADA?
If Cardano’s price fails to climb above the $0.7150 resistance level, it could start another decline. Immediate support on the downside is near the $0.70 level.
The next major support is near the $0.680 level. A downside break below the $0.680 level could open the doors for a test of $0.630. The next major support is near the $0.6175 level where the bulls might emerge.
Technical Indicators
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.
Major Support Levels – $0.7000 and $0.680.
Major Resistance Levels – $0.7150 and $0.7340.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
