Cardano has risen over 40% from the early April lows, signaling renewed bullish interest across the altcoin space. As the broader cryptocurrency market faces macroeconomic uncertainty and consolidates just below key resistance levels, ADA is now entering a critical phase. Price action remains range-bound, but sentiment is shifting as investors pay attention to important technical patterns that could determine the next move.
Top analyst Carl Runefelt recently emphasized that Cardano is consolidating in a symmetrical triangle on the 4-hour chart—a pattern often preceding strong breakout moves. This technical formation suggests ADA is gearing up for a decisive move, with buyers and sellers struggling for control in the short term. The current range continues to tighten into the weekend, with volatility expected to return as the breakout direction is confirmed.
A move above $0.7730 would indicate continued bullish momentum and could trigger another rally towards the $0.85–$0.90 range. On the other hand, losing support near $0.6280 could lead to a broader correction. As long as ADA maintains its structure and stays above key moving averages, the bullish trend remains intact.
Cardano is poised for a breakout as buyers regain control in the short term.
Cardano is showing strong signs despite trading in a tight consolidation range just below the $0.75 mark. After rising over 40% from early April lows, ADA has entered a critical phase, with buyers gradually regaining control. Recent price action suggests a breakout could be imminent, especially if ADA holds its current support level and builds additional momentum.
In recent days, Cardano has traded sideways, struggling to break through the $0.75 resistance. While this range-bound movement has frustrated some traders, it also reflects market stability, a common precursor to significant directional moves. If buyers push ADA above the $0.7730 resistance, a sustainable upward move could occur, potentially targeting the $0.85 and even $0.90 zones.
Runefelt has shared technical insights indicating that Cardano is forming a symmetrical triangle on the 4-hour chart, a structure often preceding strong breakout moves. The apex of the triangle is approaching, suggesting a decisive move may occur in the next few sessions. The key bullish breakout level remains at $0.7730. Conversely, a breakdown below the $0.6280 support level would invalidate the bullish structure and could trigger a broader pullback.
Overall, Cardano is still in a good position to rally if it can reclaim the resistance threshold and confirm the breakout. Bullish speculators will need to step in decisively to avoid a fakeout or prolonged consolidation. As the broader cryptocurrency market consolidates near its highs, ADA's setup is one of the most promising among large-cap altcoins. The next move could shape Cardano's trend in the coming weeks.
ADA Price Analysis: Consolidation Continues.
Cardano (ADA) is currently trading at $0.6963, consolidating just below the 200-day simple moving average (SMA) at $0.7766 and slightly below the 200-day exponential moving average (EMA) at $0.7113. This tight compression indicates that a crucial moment is approaching, especially as ADA attempts to hold above the short-term support level at $0.67.
Daily chart price action shows that ADA has been trading within a narrow range after recovering 40% from April's lows. Although the broader market shows strength, ADA has yet to overcome the confluence of upper moving averages—an essential step to decisively reverse the market structure in a bullish direction.
The $0.77-$0.78 level remains a crucial resistance to reclaim. A daily close above this range could confirm the breakout and push ADA towards the psychological mark of $1.00, the most recent test in early January.
The trading volume is relatively weak during this consolidation phase, which often occurs before a major move. On the negative side, losing the $0.67 level would be a bearish signal and could open the door to a retest of the $0.62 level or even $0.58.