Cardano Price Moves Within Limited Range: Will Ada Break Through To $0,90?

The course of Cardano is currently an interesting spectacle in the crypto world. The price is fluctuating between crucial support and resistance zones, while the trading volume is decreasing. This is building the tension for a possible explosive move. But the big question remains: will we see a rise or a fall?

View Cardano's daily chart

Zooming in on the daily chart, we can see that Cardano’s price is hovering around $0,75, which is just above the 20- and 50-day moving averages but remains below the 100- and 200-day moving averages. In early May, Cardano took a hit when it approached the $0,88-$0,90 zone and fell back to around $0,73. Should the price fall below this 50-day moving average, the next support lies at $0,68, with a further drop to $0,62 not out of the question. On the other hand, if ADA breaks above $0,78 and the 200-day moving average of $0,80, the path could be open for a move to $1,00, which would represent a potential return of 32%.

What does the hourly chart show?

In the short term, the hourly chart shows a bearish pattern with ADA struggling with resistance from several averages. Both the shorter and longer averages are showing downward trends, indicating continued bearish pressure. However, a strong break above $0,80 could open the doors to $0,90 and possibly higher, while a break below $0,73 could lead to further declines.

Expectation for May 2025

Looking ahead to May 2025, if Cardano stays above $0,73 and breaks through $0,80, a rise to $0,95 to $1,00 seems feasible. The market seems to be waiting for a clear indication or momentum, perhaps from overarching market movements such as Bitcoin or macroeconomic news. On the other hand, if the price falls below $0,73, bears could gain the upper hand, with support levels at $0,68 and $0,62. Given the narrow price range, a price swing of 10% to 20% in the coming days does not seem out of the question.

Frequently Asked Questions

What does a bearish pattern in Cardano hourly chart mean?

This usually indicates continued selling pressure and can be a harbinger of further decline unless a strong breakout to the upside occurs.

Is Cardano price likely to move explosively soon?

Yes, given the current price compression and declining trading volumes, the chances of a significant move are high.

What factors can influence Cardano's price?

Factors such as general market trends, economic news, and movements in major cryptos like Bitcoin can have a significant impact on Cardano's price.