Cardano at the Edge: Breakout Imminent as Bulls Regain Ground

Cardano is showing strength while trading in a tight consolidation range below $0.75. After rising over 40% from its early April lows, ADA is entering a pivotal phase with bulls reclaiming control. Recent market movement supports a breakthrough, particularly if ADA sustains support levels and gains momentum.

Cardano has traded sideways for days, unable to overcome $0.75 barrier. This range-bound action has irritated traders, but it also indicates market steadiness, which often precedes significant directional changes. If bulls break $0.7730 barrier, ADA might surge to $0.85 or $0.90.

Runefelt posted technical analysis showing Cardano establishing a 4-hour symmetrical triangle, which commonly precedes significant breakouts. The triangle's apex is approaching, thus a dramatic move is probable in the next sessions. $0.7730 maintains the bullish breakthrough level. However, a break below $0.6280 would invalidate the bullish structure and spark a further fall.

Cardano is poised for growth if it can retake resistance and breakthrough. Avoiding a fakeout or prolonged consolidation requires decisive bull action. ADA is one of the most promising large-cap cryptocurrencies as the crypto market consolidates around highs. Next move might shape Cardano's path in weeks ahead.

Consolidation Continues in ADA Prices

ADA is trading at $0.6963, holding close below the 200-day SMA at $0.7766 and slightly below the EMA at $0.7113. As ADA struggles to hold above $0.67, this tight compression implies a turning point.

After rebounding 40% from April lows, ADA has been trading in a confined range on the daily chart. Although the market is strong, ADA has yet to break above the confluence of moving averages above, which is needed to turn the market bullish. Recovery continues difficult at $0.77-$0.78. A daily close above this zone might confirm a breakthrough and propel ADA toward the psychological $1.00 barrier, last reached in early January.

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