Cardano price tests $0.80 resistance after sharp rebound as bulls eye breakout
Cardano price tests $0.800 resistance
Cardano (ADA) price is trading at $0.788 today after a strong rally from support levels near $0.718. Despite the recent bullish momentum, ADA is facing resistance near the $0.800 barrier. With price action now consolidating below this level, the market is eagerly awaiting a clear breakout or breakdown to set the tone for the next phase of price movement.
Highlights
- Cardano is struggling to break past the critical $0.800 resistance level.
- Momentum indicators are showing signs of cooling, with RSI nearing overbought levels.
- A daily close above $0.799 could confirm bullish continuation towards $0.840.
The Cardano price action has seen a sharp rebound, but the ongoing struggle at key resistance levels suggests a critical decision point for the bulls. With momentum indicators turning neutral to slightly bullish, the focus now shifts to whether ADA can break above $0.800 and continue its ascent or whether the range will hold and lead to a pullback.
ADAUSD price dynamics (April 2024 - May 2025) Source: TradingView.
Technical setup: Is the rally losing steam?
On the 4-hour chart, ADA has moved above key exponential moving averages (EMAs) and is currently testing the upper Bollinger Band near $0.790. This suggests that upward momentum could be temporarily capped unless price breaks out of this range. The RSI on the 4-hour chart is near 67.8, approaching overbought levels, while the MACD shows signs of flattening, signaling that bullish strength may be fading.
Meanwhile, a bearish divergence is forming on the 30-minute chart, where RSI and price action are diverging, which could point to short-term exhaustion and a potential pullback. Support levels to monitor include $0.774 and $0.757, which could provide a foundation for the next upward move if buyers manage to defend these zones.
Short-term forecast for May 23
For May 23, Cardano’s price remains at a critical juncture. A break above the $0.800 resistance level, especially with volume, could open the path toward $0.840 and beyond. Conversely, failure to hold $0.774 support or a rejection at the $0.800 resistance could lead to a pullback toward $0.757–$0.742. Traders should watch for a clear breakout or a retracement to define the next directional move for ADA.
As previously noted, Cardano’s broader trend remains bullish, with a solid base forming above $0.75. However, the price action is now testing key resistance zones, and bulls must clear these levels with conviction to maintain upward momentum. Without a breakout above $0.800, ADA could face short-term consolidation or a potential pullback toward lower support levels.
