Cardano ($ADA) continues to consolidate below the $0.80 mark, as traders closely watch for a potential breakout toward $0.85.
Current Market Situation
The 4-hour ADA/USD chart shows the price hovering around $0.7990 after a strong recovery from the $0.72 support zone. ADA is currently trading above both the 50-day SMA ($0.7540) and the 200-day SMA ($0.7678), indicating bullish momentum.
Key Support and Resistance Levels
Key levels for ADA: - Immediate Resistance: $0.8475 - Major Resistance: $0.90 - Immediate Support: $0.7678 (200 SMA) - Key Support: $0.7203 If ADA fails to break above $0.8475, we could see a pullback to the $0.7678 support zone.
Price Prediction for Cardano
As long as ADA holds above $0.75, the technical setup favors a bullish continuation. A decisive close above $0.85 could accelerate momentum toward $0.90 and potentially $1.00.
Cardano is showing signs of a likely breakout. Success in overcoming resistance at $0.85 could trigger a rally, while traders continue to monitor the asset's behavior.
