- ADA forms solid support on ADA/BTC chart as RSI trends upward, signaling buyer strength.
- Whales accumulated 410M ADA in April, indicating long-term confidence despite consolidation.
- Falling wedge pattern and bullish RSI divergence suggest ADA may target $0.84 and $1.00 next.
Cardano (ADA) has established a solid support zone on the daily ADA/BTC chart after recent market pullbacks. With the RSI showing upward momentum, analysts are watching closely for a potential bullish divergence that could signal the start of a breakout phase.
Price Stability and RSI Movement Suggest Possible Reversal
According to analysis prepared by multiple crypto market trackers, ADA has maintained stability above the $0.65 level. This support has remained intact even after a sharp correction from earlier highs. The daily chart against Bitcoin shows that this level is now acting as a base for buyers.
The Relative Strength Index (RSI) is also trending upward, suggesting stronger momentum building over time. The RSI movement is being closely compared to that of Ethereum, which has shown a similar pattern before previous upward moves. This indicator reflects growing buyer interest during ADA’s recent sideways trend.
ADA’s price remains between the $0.67 support and the $0.73 resistance levels. Analysts are closely monitoring this range, as a breakout from it may confirm the beginning of a new price cycle. The continued presence of buyers near support suggests confidence among traders and investors.
Bullish Divergence and Accumulation Fuel Breakout Expectations
According to an observation by on-chain analyst Ali Martinez, whales accumulated over 410 million ADA tokens in April. This accumulation trend suggests long-term positioning from large holders. It also reflects confidence in future price movement despite current consolidation.
Technical indicators show a falling wedge formation on the 3-day chart, which often suggests a bullish breakout when paired with rising momentum. With the RSI rising while the price forms higher lows, a bullish divergence appears to be forming.
If ADA breaks above the wedge’s resistance, analysts expect it could move toward $0.84 and then $1.00. These levels are seen as both psychological and historical resistance points, with the $1 mark being a key price level for Cardano.
