- ADA is holding strong between $0.75 and $1.25, signaling steady accumulation.
- A bullish wedge pattern points to a likely breakout near $0.83 resistance.
- Trading above major moving averages suggests momentum could push ADA higher.
Cardano’s $ADA is steady at $0.82, despite a modest 0.82% dip in the last 24 hours and 1.27% over the week. With strong volume and key support holding firm, $ADA is showing signs it could spark the next major bullish breakout soon.
$ADA Holds Strong After Long Consolidation
Cardano’s $ADA is holding firm above a crucial support zone, hinting at a possible move higher. After soaring close to $3 in early 2021, ADA pulled back and spent quite a while moving between $0.75 and $1.24.
This range has acted like a safety net, with the price bouncing back and forth between support and resistance throughout 2022 and 2023.Now, ADA is moving inside this range again, showing steady buying interest and buildup.
Volume spikes during upward moves show growing market excitement. There’s also a green zone near $0.60 to $0.75, which looks like the best spot to buy if the market pulls back. This area offers a low-risk chance to enter before the next big move up.
Bullish Signs in the Short Term
Looking closer at the 4-hour chart, ADA forms a descending wedge — a pattern that often leads to a bullish breakout. The price is testing the upper wedge line near $0.83, just above a key Fibonacci level. Breaking this could lead ADA to climb toward $0.865, $0.89, and even $0.92.
Traders should wait for confirmation because if ADA fails here, it might drop back toward $0.78. But if it clears resistance, it could spark a strong rally backed by positive momentum.
Moving Averages Show Growing Strength
A big positive sign is ADA trading above its 7, 25, and 99-week moving averages — a level not seen since the last big bull run. Right now, ADA is around $0.83, close to the 7-week average, meaning bulls and bears are in a tug of war.
Indicators like MACD and RSI show the market is balanced and waiting for direction. Market cap is also moving sideways, showing neither strong buying nor selling pressure. This calm before the storm could set the stage for a strong next move.
