Cardano Holds $0.70 as RSI Climbs and 50-Day MA Bounce Fuels Momentum

Cardano holds above $0.70 with RSI rising and support from the 50-day moving average.

Technical patterns suggest ADA may rally 260–300% if resistance at $0.750–$0.81 is broken.

Volume near $0.69 indicates accumulation as traders watch for a bullish breakout confirmation.

Cardano (ADA) is trading near $0.70 and showing positive signs as the RSI climbs and the price bounces from the 50-day moving average. Buying pressure is building around this key level. If the stock market opens green, ADA may retest resistance levels in the coming sessions.

Price Structure Points to Recovery Momentum

According to CoinMarketCap, ADA is holding above the $0.680 support zone while trading close to the $0.618 Fibonacci level at $0.6910. The 50-day moving average, which currently sits around $0.66, has offered strong support. This same level helped trigger a rally in March 2024.

The RSI indicator is moving upward and currently sits above the 50 mark, indicating momentum is turning positive. Market analysts have noted that ADA has formed a pattern of higher lows. This structure is considered a sign of ongoing buying pressure. The MACD shows a bullish crossover, and green histogram bars are increasing, though the momentum is not yet strong.

If ADA sustains its position above current support while volume increases, a stronger move could develop. A break below $0.680, however, may lead to renewed consolidation near the $0.63 zone.

Resistance Levels and Historical Breakout Patterns

ADA faces immediate resistance near $0.7150, followed by $0.7250. A clear move above $0.750 may open the path to $0.80. According to technical observations, ADA is forming a pattern that has historically led to large rallies of up to 300%.

Analyst Javon Marks previously identified three similar setups where ADA surged by over 260%. The current chart structure reflects those past trends. Volume around $0.69 is growing, which suggests accumulation.

Source :Javon Marks(X)

Respected analyst Rose Premium Signals also stated that ADA broke out of a Descending Wedge pattern. Their short-term forecast includes targets of $1.2797 and $1.4853, provided the momentum continues. Traders are closely monitoring whether ADA can break above $0.81 to confirm further upside.

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