Cardano ADA Tests $0.70 Resistance – Make-or-Break Moment for Bulls

Cardano’s ADA hammers at the $0.70 ceiling—again. Will this be the breakout or another fakeout? Traders eye Bitcoin’s momentum and network upgrades for clues.

Technical setup: The 50-day EMA coils just below current price, acting as springboard or trapdoor. Volume’s anemic compared to last week’s rally—smart money waiting or bailing?

On-chain data shows whales accumulating at $0.65, but retail FOMO’s absent. Meanwhile, Ethereum’s Shanghai upgrade steals DeFi limelight (as usual).

Closing thought: If ADA gets rejected here, the ’ghost chain’ taunts will return faster than a VC dumping his locked tokens.

• Cardano (ADA) is consolidating below $0.70 after a recent rally, showing exhaustion.
• Whales have increased their holdings, buying over 420 million ADA in April.
• The next key breakout for Cardano could come if it surpasses the $0.74 level, but a fall below $0.66 could reverse bullish momentum.

Cardano (ADA) is experiencing a period of consolidation, currently trading at $0.6923, down 0.37% on the day. Despite this slight dip, ADA has gained 2.05% over the past week, with its 24-hour trading volume at $658.15 million, down 15.88%. The recent price action suggests that Cardano is at a crossroads, showing signs of exhaustion after its recent rally.

Technical indicators show a mixed picture. The relative strength index (RSI) stands at 70.74, indicating that ADA may be overbought and at risk of a pullback.

Additionally, the Bollinger Bands are tightening, signaling that a period of volatility may be on the horizon. ADA is currently trapped in a critical zone between the support level at $0.6923 (S1) and resistance at $0.7041 (R1), with market volume staying healthy at 1.12x the average.

Whale activity drives ADA’s recent surge

A notable development in ADA’s recent price movements is the surge in whale activity. In April, Cardano whales purchased more than 420 million ADA, worth around $289 million.

These large investors, holding between 10 million and 100 million ADA, now account for a growing portion of the token’s market capitalization. Their total holdings increased from 12.47 billion ADA to 12.89 billion ADA, as reported by Santiment.

Despite these bullish actions from whales, Cardano’s price has struggled to break the critical $0.70 level over the past five weeks. ADA briefly touched $0.74 before dropping back, reinforcing its position in a tight trading range.

Although whale purchases suggest confidence in ADA’s long-term prospects, the token has yet to achieve a decisive breakout.

Cardano price forecast for 2025

Looking ahead, Cardano’s price forecast remains cautiously optimistic. According to predictions, the token could reach a low of $0.672 and a high of $0.806 by 2025, with an average price of around $0.940, offering a potential ROI of 19.7%. F

or May 2025, experts anticipate a price range between $0.727 and $0.940, with an average price of $0.834, signaling a potential ROI of 39.6%.

But ADA’s near-term fate is whether or not it can overcome the resistance at $0.74. If it can exceed this price level, it can head toward $0.80. But falling below $0.66 can kill Optimism and change hopes to bearish expectancies.

To swing traders, the present setup is in favor of swing trades, and the main risk-management points are at $0.6545 support and at the resistance of $0.7041.