Cardano Edges Closer to Make-or-Break Point


Key Takeaways

  • Cardano remains stagnant, trading within a tight price range. 
  • This type of price action points to a potential spike in volatility.
  • ADA must print a daily close outside $0.48-$0.41 to resolve its current trend. 

Share this article

The macroeconomic environment continues to take a toll on the cryptocurrency market as sentiment deteriorates. Although many market participants appear to be waiting on the sidelines, Cardano looks primed for a major price move.  

Cardano Continues to Consolidate 

Cardano appears to be on the verge of a significant price movement. 

ADA has seen its price drop by nearly 17% over the past three weeks. When looking at its daily chart, the downswing came after a rejection from the hypothenuse of a descending triangle formation that started developing in early May. Now, Cardano is edging closer to the pattern’s apex, which anticipates a pronounced spike in volatility. 

The height of the triangle’s Y-axis suggests that upon a decisive close above support or below resistance, ADA could stage a 44% price movement. Still, waiting for a clear break of the $0.48 resistance level or the $0.41 support is imperative. 

ADA/USD daily chart. (Source: TradingView)

A spike in buying pressure that pushes Cardano above the triangle’s hypothenuse at $0.48 could trigger a bullish breakout. If this were to happen, ADA might gain the strength to surge toward its 200-day moving average at $0.63 or even its May high at $0.69.

However, losing the $0.41 level as support could encourage market participants to exit their long positions, adding downward pressure to Cardano. In this bearish scenario, ADA could resume its downtrend and target $0.33 or $0.25 in case of a sell-off. 

Given Cardano’s ambiguous outlook, traders appear to be remaining on the sidelines and waiting for a clear signal before entering any positions. However, global macroeconomic conditions continue to weigh on crypto market sentiment, pushing the Crypto Fear & Greed Index into the “extreme fear” range. It could be difficult for Cardano to break out to the upside if such conditions persist.

Disclosure: At the time of writing, the author of this piece owned BTC and ETH. The information contained in this piece is for educational purposes only and is not investment advice. 

For more key market trends, subscribe to our YouTube channel and get weekly updates from our lead bitcoin analyst Nathan Batchelor.

https://www.youtube.com/watch?v=+lastest

Share this article



Source link

Related articles

Sharplink Acquires $264.5 Million in ETH, Boosting Holdings to 521,939

Sharplink Gaming, Inc. acquired 83,561 ether ( ETH) for $264.5 million final week, growing its whole holdings to 521,939 ETH. Sharplink Ether Focus Jumps 83% The corporate, Sharplink Gaming, Inc. (Nasdaq: SBET), funded...

The 6 Highest-Yielding Shares With Extremely-Secure Dividends

Revealed on August fifth, 2025 by Bob Ciura Excessive dividend shares are shares with a dividend yield effectively in extra of the market common dividend yield of ~1.3%. Excessive-yield shares may be very useful to shore...

BellRing Manufacturers, Inc. 2025 Q3 – Outcomes – Earnings Name Presentation (NYSE:BRBR)

This text was written byObserveIn search of Alpha's transcripts crew is liable for the event of all of our transcript-related tasks. We at present publish hundreds of quarterly earnings calls per quarter on...

Roku Simply Launched Howdy, a $3 Advert-Free Streaming Platform

Roku launched a brand new streaming service on Tuesday, priced at $3 per 30 days, and it is fully ad-free. It is referred to as Howdy and can supply hundreds of films and...

This open-source LLM might redefine AI analysis, and it’s 100% public

What's an open-source LLM by...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com