Cardano (ADA) is trading near $0.70, showing positive trends due to support from the 50-day moving average and rising RSI.
Price Structure Points to Recovery Momentum
According to CoinMarketCap, ADA is holding above the $0.680 support zone while trading close to the $0.618 Fibonacci level at $0.6910. The 50-day moving average, currently around $0.66, has provided strong support. The current price structure, with higher lows formed, indicates ongoing buying pressure.
Resistance Levels and Historical Breakout Patterns
ADA faces immediate resistance near $0.7150, followed by $0.7250. A clear move above $0.750 may pave the way to $0.80. Analysis shows that ADA is forming patterns that have historically led to large rallies of up to 300%.
Analysts' Perspectives and Forecasts
Analyst Javon Marks noted existing chart structures reflect three similar setups, where ADA surged by over 260%. Volume around $0.69 is increasing, suggesting accumulation. Rose Premium Signals also stated that ADA broke out of a Descending Wedge pattern, with short-term targets of $1.2797 and $1.4853 if momentum continues.
Cardano demonstrates positive signs of ending consolidation and potential growth. Given current trends and analyst support, interest in ADA continues to rise.
