Cardano (ADA) Consolidates Within an Ascending Triangle, Ready for a Breakout, but Confirmation Is Key

Ali Charts, a crypto analyst, has observed that Cardano (ADA) is consolidating within an ascending triangle pattern. According to Ali, Cardano's price was nearing the 0.618 Fibonacci retracement level.

Cardano (ADA) price analysis reveals that the token has been consolidating within an ascending triangle pattern. Key resistance is encountered at $0.8322, while an ascending trendline supports higher lows.

ADA price may continue advancing to $0.8679 and then extend to $0.8805 if the market breaks above $0.8322. However, a breakdown below $0.7960 could trigger a possible price retest at $0.7810.

At the moment, ADA trades at $0.7868 with a 24-hour trading volume of $572.96 Million. In the last 24 hours, ADA price has decreased by 4.16%.

Cardano price opened the day at $0.7960 and reached a high of $0.8020 before dropping to a low of $0.7780. A downtrend is observed on the 4-hour chart of ADA price.

Cardano price analysis: Technical indicators suggest mixed signals

ADA price is trading at $0.7868 with a 24-hour trading volume of $572.96 Million. In the last 24 hours, ADA price has decreased by 4.16%.

Cardano is currently maintaining a market capitalization of $27.69 Billion. Weak momentum is observed as the Relative Strength Index stands at 43.40 without entering the overbought or oversold range.

RSI has registered modestly rising levels above its past positions at 34.30. This suggests that the price may consolidate or create weak bullish patterns.

The Moving Average Convergence Divergence (MACD) line at 0.010 has crossed above the signal line at -0.046, forming a bullish crossover.

Moving ahead, the MACD histogram has shifted from negative to slightly positive, indicating a potential momentum shift.

Cardano price analysis: Market sentiment and historical trends

Despite the recent decline, market sentiment is mostly bullish. Strong buying pressure is evident, with a 14.25% bullish bid-ask volume imbalance on exchanges.

However, the futures market shows slight bearish momentum at -0.25.

Cardano’s high correlation with Bitcoin at 0.91 suggests that its price will likely follow Bitcoin’s movements.

With analysts projecting Bitcoin to hit $150k by the end of 2025, ADA price may also see a significant upside.

Concurrently, TapTools, a crypto analysis platform, highlights that the token is repeating its historical price patterns.

Its breakout from a prolonged accumulation phase indicates potential bullish momentum.

Cardano $ADA is repeating history. pic.twitter.com/hTrJ45oWyO

TapTools noted that after its last accumulation, ADA price surged 1,565% to reach its all-time high of $3.10.

If the current momentum continues, Cardano could target key resistance levels at $1.35, $2.50, and $3.50.

Cardano price analysis: Future prospects and analyst predictions

Crypto analyst Sssebi suggests that ADA could reach $20 due to several key factors.

He highlighted that Bitcoin holders might begin investing heavily in the Cardano ecosystem after it became Bitcoin’s layer-1 for smart contracts.

🔄Adding 1 more to the listReasons $ADA can go to $20:👇 1. Cardano becomes Bitcoin DeFi layer2. Charles Hoskinson becomes Trump's Crypto Advisor. 3. Cardano ETF in 20254. Microsoft partnershipDid I miss any? https://t.co/reGW6iYNVX

Sssebi mentioned the possibility of Cardano founder Charles Hoskinson becoming a crypto advisor to US President Donald Trump.

He also noted the potential approval of a Cardano ETF in 2025 under new US SEC leadership, due to the possible easing of crypto regulations.

Sssebi further speculated that a partnership with Microsoft could drive ADA price even higher, which would further reinforce optimism within the Cardano community.

In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.