Cardano (ADA) has seen its fair share of attention drift away from it as its price has remained stagnant within a tight range. However, recent developments suggest that ADA may be gearing up for a significant move. Despite the slower price action, Cardano’s blockchain activity has surged, with daily active addresses now exceeding 50,000. This growth, coupled with whales flooding the network and purchasing over 100 million ADA tokens in just days, signals an underlying shift in sentiment.
The ADA price has recently managed to break above $1, as Bitcoin’s sustained rise above $105K has provided a boost to altcoins. As the broader crypto market shows signs of recovery, Cardano has gained momentum, successfully surpassing crucial resistance levels. However, the price remains trapped under $1, creating a barrier that raises concerns about future price action. Despite these challenges, ADA is testing key levels, which could indicate a potential breakout.
Currently, ADA is testing the support of a symmetrical triangle, a critical phase in the price rally. A rebound at this juncture is crucial for maintaining bullish momentum. The volume is also squeezing, signaling that a breakout may be imminent. Technical indicators are aligning, with the price nearing local lows and suggesting a potential rebound.

The Chaikin Money Flow (CMF), a key indicator of market strength, has dropped below zero, hinting at short-term market weakness. However, a bullish divergence has emerged, suggesting that buying pressure could soon return. Additionally, the Relative Strength Index (RSI) hovers around the average range, indicating that bulls are preparing for the right moment to enter the market.
Also Read: Cardano Price Faces Short-Term Decline, But Long-Term Bullish Outlook Remains Strong
For ADA to maintain its bullish trajectory, a daily close above $1.02 could trigger a move towards $1.10. A breakout from the symmetrical triangle could pave the way for ADA to rise above $1.20, potentially leading to new highs. As Cardano navigates this pivotal phase, all eyes will be on how it handles these critical price levels.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.