Cardano (ADA) Hits a Wall — Can Bulls Break Through?

Cardano’s ADA struggles below a key resistance level, leaving traders wondering if the bulls still have the momentum to push higher.

Market watchers eye the charts as ADA tests a stubborn ceiling—fail here, and the bears might seize control. Meanwhile, Bitcoin maximalists smugly sip their coffee, muttering about ’third-gen altcoins’ like it’s 2021 all over again.

Will ADA’s loyalists rally, or is this another ’decentralized dream’ deferred? Grab your popcorn—the crypto circus rolls on.

Cardano Price Eyes Recovery

In the past few days, Cardano saw a fresh decline below the $0.7550, unlike Bitcoin and Ethereum. ADA even declined below the $0.740 level before the bulls appeared.

A low was formed at $0.7287 and the price is now attempting a recovery wave. The price climbed above the $0.750 resistance level. There was a MOVE above the 23.6% Fib retracement level of the recent decline from the $0.8380 swing high to the $0.7287 low.

There was a break above a bearish trend line with resistance at $0.750 on the hourly chart of the ADA/USD pair. Cardano price is now trading above $0.740 and the 100-hourly simple moving average.

On the upside, the price might face resistance NEAR the $0.7680 zone. The first resistance is near $0.7840 or the 50% Fib retracement level of the recent decline from the $0.8380 swing high to the $0.7287 low. The next key resistance might be $0.80.

If there is a close above the $0.80 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.820 region. Any more gains might call for a move toward $0.8350 in the near term.

Another Decline In ADA?

If Cardano’s price fails to climb above the $0.7680 resistance level, it could start another decline. Immediate support on the downside is near the $0.750 level.

The next major support is near the $0.740 level. A downside break below the $0.740 level could open the doors for a test of $0.7260. The next major support is near the $0.70 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.

Major Support Levels – $0.750 and $0.740.

Major Resistance Levels – $0.78400 and $0.8000.