Cardano (ADA) Eyes Breakout Amid Market Volatility

Cardano (ADA) is showing signs of a potential bullish breakout, rebounding from a solid support level and eyeing a push past the $0.94 resistance, according to Cointelegraph. ADA recently broke above the $0.86 mark but failed to hold its ground, slipping below this level by midweek. Thursday's session saw a drop toward the 20-day simple moving average (SMA) at $0.73. However, the long lower wick on the candlestick signals strong buying interest at lower levels.

If buyers regain momentum and push ADA above the $0.94 barrier, the ADA/USDT pair could climb to $1.02 and potentially $1.17. On the flip side, a fall below the 20-day SMA may confirm a bull trap, with further downside toward the 50-day SMA at $0.66.

The 4-hour chart shows moving averages nearing a bearish crossover, indicating that bears could regain control. A failure to break above the 20-SMA might drive ADA down to $0.75 or even $0.70, potentially delaying any upward move.

Investors are advised to monitor key resistance and support zones closely. As always, this is not investment advice—market conditions remain highly volatile, and proper due diligence is essential.