Cardano price trades near $0.62 as symmetrical triangle builds pressure for breakout move
ADA consolidates inside symmetrical triangle with breakout potential further
Cardano (ADA) continues to trade in a tight consolidation range, hovering around $0.62 as of Thursday. The altcoin has formed a symmetrical triangle on the 4-hour chart, with higher lows emerging from the April 7 low at $0.58, while resistance remains capped below $0.645. This pattern reflects a market pause after a steep March-to-April decline, now showing signs of potential reversal—if volume confirms a breakout.
The structure suggests compression between rising demand and consistent supply pressure, with a potential volatility expansion on the horizon. ADA faces strong resistance at $0.645, the upper bound of the current pattern, which also marks a key supply zone. A breakout above this level could drive prices toward $0.70 and $0.74, both aligned with past demand-turned-resistance zones. On the flip side, support at $0.60 and $0.58 remains critical. A decisive close below $0.58 would expose ADA to downside targets of $0.56 and possibly $0.52.
Cardano price movement (April 2025) Source: TradingView.
Indicators flash early bullish signs but lack volume confirmation
On the lower timeframe, RSI stands at 56.89, signaling modest bullish strength without being overbought. The 4-hour RSI, however, remains neutral near 50, underscoring market indecision. MACD has shown a mild bullish crossover on the 30-minute chart, with green histogram bars emerging, though the move lacks strength and breadth so far.
The Bollinger Bands on the 30-minute chart are widening after a squeeze, pointing to an upcoming volatility phase. ADA is testing the upper band near $0.619, and with moving averages (20, 50, 100, 200 EMA) all converging in the $0.616–$0.620 range, this confluence zone forms a technical trigger point. A strong close above this zone could activate fresh buying interest.
Outlook remains neutral-bullish as market awaits trigger
In summary, ADA remains coiled within a narrowing structure, with buyers defending higher lows and sellers protecting $0.645. A volume-backed breakout above this ceiling would confirm bullish continuation toward $0.70. Failure to hold above $0.60, however, could invalidate the recovery and reopen room to the downside. Traders are watching for a catalyst—technical or fundamental—to resolve the current standoff.
In prior sessions, we identified $0.645 as the structural resistance for ADA, with $0.58–$0.60 acting as a demand zone. That range continues to shape the near-term outlook, with price action caught between potential reversal and breakdown.
