Is Cardano About to Break Out, Or Is This Another Fakeout?
I’ve been watching Cardano closely, and right now, it’s at a make-or-break moment. That $1 resistance isn’t just any level, it’s a multi-year trendline that’s rejected ADA over and over. The brief spike above it this week got my attention, but until we see a strong daily close above $1, I’m staying cautious.
I can’t help but compare this to early 2021, when Ethereum breakout lit a fire under the entire altcoin market. $ETH is knocking on the door of its all-time high again, and if it surges, $ADA could follow. The charts look promising, the 20-day MA just crossed above the 200-day, a classic bullish signal we last saw before ADA late 2024 rally.
But here’s what’s nagging at me; crypto markets love to shake people out. Just last week, exchanges liquidated over $1 billion in longs, reminding us how quickly sentiment can flip.
Right now, ADA risk score sits at 43, similar to December 2020, right before the last bull run. That’s exciting, but I’m not all-in yet. If we dip back to the mid-$0.80s to cool off, I’ll see it as a healthy reset before the next push. But if $1 flips to support? That’s when things could get really interesting.
Watching for that confirmed breakout, because if ADA holds above $1, I don’t want to miss what comes next.
