- Cardano has flipped key resistance levels into support, signaling strong bullish momentum.
- With Bitcoin stable and indicators positive, ADA looks poised to rally toward the $0.90 mark.
Cardano [ADA] is showing strong signs of bullish momentum, with recent price action suggesting a potential rally toward the $0.90 mark. After reclaiming the key $0.75 level as support, the technical outlook across multiple timeframes has flipped decisively bullish, signaling a possible continuation of the uptrend.
On the daily chart, ADA’s recovery from the $0.69 level—once considered a critical support—has been swift and calculated. The breach and subsequent retest of the $0.756 resistance, a swing high from mid-March, has added conviction to the bulls’ case. This level, formed during the steep decline from $1.15 to $0.55, now acts as a solid foundation for further gains.
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Momentum indicators back the bullish sentiment. The RSI has climbed above neutral 50, while the OBV (On-Balance Volume) continues to rise, suggesting sustained buying pressure. Additionally, Bitcoin’s stability around the $107,000 mark—and its potential to break past its all-time high—could act as a catalyst for ADA and the broader altcoin market.
Zooming into the 4-hour chart, ADA has broken above a descending trendline resistance and posted higher lows, reinforcing the bullish structure. The move past $0.743, a recent lower high, marks another technical milestone that strengthens the bullish narrative. As long as ADA remains above $0.72, the short-term bias favors the bulls.
However, caution is warranted. While the Long/Short Ratio currently stands near parity at 0.97, suggesting a balanced market, volume and trader conviction remain moderate. Traders should watch for a spike in buy-side volume to confirm breakout strength. A continued surge in Bitcoin could provide the momentum ADA needs to challenge the mid-range resistance at $0.90.
In summary, Cardano appears poised for further upside. Technical structure, improving momentum, and macro sentiment all align for a potential push to $0.90—provided buyers maintain pressure and Bitcoin cooperates.
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
