Cardano price tests key resistance amid potential bullish shift
Cardano (ADA/USDT) price chart displaying key trendlines
Cardano (ADA) is struggling to maintain momentum, trading near $0.77, as technical indicators suggest bearish pressure in the short term. The cryptocurrency faces strong resistance at $0.79837 (50 EMA - 4H chart) and $0.84412 (200 EMA - 4H chart), while key support remains at $0.75.
Traders are closely watching price action around these levels to determine ADA's next major move.
Cardano price movement (January 2025 - February 2025) Source: TradingView.
ADA price under pressure as key indicators weaken
The 4-hour chart reveals that ADA is trading below the 50 EMA, with LuxAlgo Trendline Breaks highlighting a potential breakdown from an ascending wedge pattern. If the price fails to hold $0.75, a further slide toward $0.73 or $0.70 is likely.
The MACD (12,26) has formed a bearish crossover, with the signal line above the MACD line, indicating fading bullish momentum. Meanwhile, the RSI (14) is at 41.38, suggesting that ADA is nearing oversold conditions but has yet to hit extreme levels.
Daily and weekly trends indicate consolidation phase
On the daily chart, ADA remains range-bound after its previous downtrend. A break above $0.81 could indicate a shift toward bullish sentiment, but resistance at $1.16590 (daily resistance) and $1.34 (weekly Bollinger Band upper limit) suggests limited upside potential without strong volume support.
The weekly chart shows rejection at the Bollinger Band mid-line ($0.80-$0.84), reinforcing a strong supply zone. Meanwhile, the lower Bollinger Band at $0.25 remains an extreme downside scenario if market sentiment turns bearish.
Market outlook and key price levels
ADA must hold above $0.75 to prevent a deeper correction. A move above $0.81-$0.84 could trigger a bullish recovery toward $1, while failure to maintain support at $0.75 may lead to a retest of $0.70-$0.73.
Last week, ADA was attempting a breakout near $0.80, but strong resistance and bearish indicators have since pushed it lower. Current price action suggests that traders should remain cautious unless a decisive breakout above $0.81 occurs.
