Cardano (ADA) has been at the heart of colossal volatility and drastic price fluctuations, establishing it as one of the most unpredictable assets in the cryptocurrency market. ADA’s price jumped over 80% in less than a day following the announcement of the US Strategic Crypto Reserve by former President Donald Trump, which included Cardano. This caused a buzz about its long-term role in institutional adoption.
Nevertheless, this enthusiasm was ephemeral as negative macroeconomic sentiment and global trade war concerns led to a steep 35% drop within just two days. As ambiguity engulfs the financial markets, traders are skeptical about ADA’s ability to regain its momentum or whether a further downturn is imminent.
Despite the recent sell-off, renowned analyst Ali Martinez provided a technical analysis indicating that Cardano is still primed for a potential surge towards $10. According to his insights, to achieve a robust recovery, bulls must recapture key technical levels. ADA continues to portray bullish potential despite short-term weakness.
With Cardano’s price action at a critical juncture, the following days will play a pivotal role in determining its next move. If bulls can secure ADA above key support, the chance for another explosive rally is still within reach.
Cardano (ADA) has been outperforming the wider crypto market over the past week, demonstrating relative strength amidst ongoing volatility. However, price action remains trapped within a range that first started forming in November 2024, hindering a clear breakout in either direction.
If bulls can maintain the current levels, ADA could soon attempt a leap above multi-year highs, setting the stage for a significant bullish move. However, analysts remain cautious as prices are still low and investor sentiment is fearful amidst macroeconomic uncertainty and trade wars. Many traders are waiting for confirmation of a breakout, as momentum has yet to fully favor the bulls.
Martinez’s technical analysis suggests that Cardano is still primed for a potential surge toward $10. According to Martinez, for this bullish scenario to transpire, ADA must sustain support above $0.80 while successfully breaching the crucial $1.20 resistance level. These price points serve as critical pivot zones, and their validation or failure will probably dictate Cardano’s short-term trend.
The subsequent trading sessions will be critical, as a break above $1.20 could initiate a robust upward move, while failure to hold above $0.80 could lead to further downside risk. With ADA currently at a pivotal point, traders are keenly observing price action to determine whether bulls can regain dominance or if continued consolidation is ahead.
Cardano (ADA) is currently trading at $0.80 after failing to hold above the key $1 level. Despite recent strong performance compared to the broader market, ADA has struggled to sustain bullish momentum, leaving traders in doubt about its next move.
For bulls to regain dominance, ADA must reclaim the $1 mark and surge above the vital $1.17 resistance level. A break and hold above this zone could trigger a colossal rally, potentially propelling Cardano to multi-year highs. Such a move would signal renewed buying interest, enhancing confidence among investors and traders who are monitoring ADA’s long-term potential.
However, failure to break above $1 and maintain the critical $0.80 support level could expose Cardano to further downside risk. A breakdown below $0.80 would likely push ADA into lower demand zones, prolonging its consolidation phase and postponing any significant recovery.
