- ADA mirrors 2019–2021 cycle, eyeing $5.80–$6.00 if bullish pattern holds.
- Price stability above $0.80–$0.82 seen as critical for sustaining upward momentum.
- RSI readings and MACD signals indicate a building of bullish strength, but without any overbought signal.
Cardano (ADA) is showing a market pattern that resembles its performance during the 2019–2021 cycle, though progressing at a slower pace. The current price of the asset is similar to its early breakout phase during the previous bull run. This trend is supported by Fibonacci extension and retracement levels.
The Analysis of ADA‘s weekly chart shows a parallel between the 2023–2025 trend and the earlier cycle. In the previous phase the token crossed above the Fibonacci Retracement Level of 0.618, resulting in a rally lasting for a while that reached $3.10 at the peak.
Resistance levels have been identified as $1.56 ($2,10), $3.10 ($3,10), which are in line with Fibonacci projections. The historical pattern could lead to a move toward the Fibonacci 1.618 extension estimated at between $5.80 and $ 6.00 by 2026. Analysts note that maintaining price action above the $0.80–$0.82 zone could be key to maintaining bullish momentum.
Current market conditions
As at the time of publication, ADA traded at $0.798, a decline of 2.18% in 24 hours. Within the intraday trading range, prices have fluctuated from $0.78 up to $0.83. A rally early in the day brought them above $0.82.
Cardano’s market The capitalization is $28.19 Billion, making it the 10th largest cryptocurrency. Its 24-hour volume of trading has reached $1.19 million, an increase of 17.72% from the previous day. Volume to market cap is only 4.23% which shows a low level of liquidity.
RSI and MACD Signal Building Momentum
Technical indicators on the daily chart show a Relative Strength Index of 57.10. This is higher than the neutral middlepoint of 50. It indicates strong purchasing power, but it is not yet in the overbought region, which starts above 70. The RSI’s upward trend for lows below 40 is a sign of further accumulation.
The Moving Average Convergence and Divergence (MACD), an indicator, shows that the MACD is at 0.012 above the signal at 0.013 with the histogram at around -0.001. This close-crossover signals a growing bullish momentum.
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Source: blockchainreporter.net
