$ADA

Cardano's 1‑Month Tech Check: Momentum Builds, But Caution Still Key

Over the past 30 days, ADA climbed from approximately $0.64 to around $0.80, a solid ~26% rebound fueled by major ecosystem news like Brave integration and entry into Grayscale’s digital-largest-cap fund . This rally broke a long-standing descending channel, signaling a potential trend reversal supported by high trading volume .

Bullish Signs:

Price remains above the 200-day EMA near $0.71, with recent bounce reinforcing it as a key support level .

RSI hovers near neutral (~50–60), indicating healthy upward momentum without being overbought .

Watch-Outs:

A bearish EMA crossover (20/50) in early June signals short-term caution .

On‑chain debates over Cardano treasury usage recently triggered a ~6% drop, peaking near $0.68, now stabilizing around $0.64–$0.66 .

Critical Levels:

Resistance: $0.84–$0.85.

Support: $0.71 (200‑day EMA) and short-term pivot at $0.64.

Verdict: ADA’s technical setup looks balanced—bullish momentum is building, but sentiment and on‑chain governance signals hint at potential consolidation. A decisive break above $0.84 on volume could unlock further gains toward $1.00.