The ADA Cardano price is currently trading around $0.67, a long way from its highest price of 1.178 in December 2024, with a total market cap of $24.52B. However, market sentiment is beginning to shift as the market saw a 27% climb in 30 days, which is a sign of whale activities entering the market
Cardano on the Edge: Will It Break Out or Break Down?
Looking at the chart on a daily time frame, the overall outlook of the market is bullish. However, on March 3, 2025, ADA had a very strong sell-off that lasted six days, leaving an imbalance in the market. The market eventually cooled down after tapping into a major support zone at $0.5, a level that has been tested multiple times.
After tapping the support zone, the market changed structure to the upside, creating a series of higher highs and lows, which later reacted off a major resistance level of $0.76, while creating a bearish flag pattern that broke out on May 25th to tap into a resistance turned support zone at $0.6
This movement shows that ADA is at a crossroads, giving equal potential to both buys and sells. This means that If the market breaks past the $0.76 major resistance, we could see a 73% increase in price to $1.17 however, if it fails to break past it, the market might just shoot even lower.
Moreover, a crypto analyst shared a bullish outlook in a post on X, noting that Cardano “is forming a bullish reversal at the BC zone,” with a target of $1.22–$1.36 once the move is confirmed. “Eyes on the breakout!” the analyst added.
Cardano at the Crossroads: Weak Momentum Meets Growing Optimism
Based on the RSI and Bollinger Bands, the current momentum is a bearish-to-neutral sentiment. The Relative Strength Index (RSI) is sitting at 41.83 which is below the neutral 50 mark. This means neither the bears nor the bulls are controlling the market.
Meanwhile, the price is hovering near the lower Bollinger Band at $0.673 which suggests that there is pressure in the market. While the price near the bottom band has bounced multiple times which could be seen as a support from buyers, there hasn’t been much volatility or strength to support a solid push to the upside.
The midline of the Bollinger Bands, around $0.739 hasn’t been reclaimed either, which adds to the cautious outlook.
For any real momentum shift to the upside, it will be wise to watch for two things: a clear move above that midline or the Relative Strength Index (RSI) crossing above 50, which would signal growing buying pressure.
Can Cardano Ride the Whale Wave to Recovery?
According to a post by TapTools on x, who revealed a sudden surge in whale activity around Cardano (ADA). More than $10 million worth of trades are open right now, and 83% of that is people betting that ADA’s price will go up.
What really stands out is how much of this is done with borrowed money. Out of $3.11 million in leveraged trades, $2.93 million is being used to bet on ADA going higher, meaning more than 94% of leveraged traders are betting ADA will climb up
Adding to the growing optimism, investors are closely watching Grayscale’s push to launch a Cardano (ADA) spot ETF, which would make it easier for traditional investors to buy ADA through regular stock markets.
While the U.S. Securities and Exchange Commission (SEC) has delayed its decision until July 13, 2025, many see it as a positive sign. If the ETF gets approved, it could bring in big investors and possibly give Cardano’s price a strong push.
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