Cardano Price Surge

Cardano’s price began to rise significantly, moving above the $0.70 zone. ADA has increased over 60% and is now consolidating near the $1.050 support zone.

• ADA price initiated a new surge past the $0.70 and $0.90 thresholds.
• Currently, it is trading above $1.00 and the 100-hourly simple moving average.
• A short-term contracting triangle is forming, with resistance at $1.1450 on the hourly chart for the ADA/USD pair (data sourced from Kraken).
• The pair may rise again if it breaks through the $1.150 resistance zone.

Cardano Price Skyrockets

Following a significant decline, Cardano found support around $0.580. After Trump’s crypto reserve announcement, ADA formed a base and surged over 60%, outperforming both Bitcoin and Ethereum.

The price moved above $0.70 and $0.90, with bulls pushing it above the $1.0 resistance point. A high of $1.1577 was recorded, followed by consolidation, with a slight decline below the $1.10 mark.

The price tested the 23.6% Fibonacci retracement level from the $0.6446 swing low to the $1.1577 high and is now trading above $1.00 and the 100-hourly simple moving average.

Resistance and Support Levels

On the upside, resistance is likely near the $1.10 area, with the primary resistance point at $1.1450. The formation of a contracting triangle hints that a key resistance level could be around $1.150. If the price closes above $1.150, a strong rally towards the $1.220 area could occur, potentially leading to $1.250 in the near term.

Potential Decline in ADA?

Should Cardano’s price fail to rise above the $1.150 resistance level, a decline may occur, with immediate support around $1.040. The next significant support level is near $1.00; breaching this level could lead to a test around $0.90, with further support at $0.80 where bulls may re-enter.

Technical Indicators

• Hourly MACD: The MACD for ADA/USD is gaining momentum in the bullish territory.
• Hourly RSI (Relative Strength Index): The RSI for ADA/USD is now above the 50 level.
• Major Support Levels: $1.0400 and $1.000
• Major Resistance Levels: $1.1000 and $1.1500