• Cardano price performance has been uneventful, as the token lagged behind while Bitcoin and Ethereum recorded new all-time highs.
  • ADA bulls appear to be struggling with the nearest obstacle at the 21 twelve-hour SMA.
  • Only a slice above $2.24 would put the 23% rally on the radar. 

Cardano price continues to confuse forecasts ADA teeters between two clearly defined technical levels. Until the Ethereum-killer can overcome the two key areas of resistance, the token can expect a 23% climb toward $2.73. 

Cardano bulls ready to tackle next obstacles

Cardano price presents a lack of clear directional bias as it continues to be sealed within a symmetrical triangle pattern on the 12-hour chart. Despite the recent uptick seen in the cryptocurrency market, witnessing Bitcoin and Ether reach new all-time highs, ADA lagged behind.

It appears that Cardano price is gearing up to tackle obstacles, despite the overwhelming strength of the resistances that are currently intimidating the bulls. The first hurdle for ADA is at the 21 twelve-hour Simple Moving Average (SMA) at $2.16. If the Ethereum-killer manages to slice above this level, the next headwind will emerge at the 23.6% Fibonacci retracement level, coinciding with the 50 twelve-hour SMA at $2.19.

According to the IntotheBlock’s In/Out of Money Around Price (IOMAP), the aforementioned level of resistance would be a challenging level to crack for the bulls, given that it is the largest cluster recorded by the technical metric, as 226,650 addresses purchased 7.82 billion ADA at an average price of $2.19.

ADAUSDT

ADA IOMAP

If the buyers manage to slice above this stiff hurdle, would see Cardano price tag the upper boundary of the prevailing chart pattern at $2.24. Breaking above the topside trend line of the triangle would put the 23% climb on the radar for ADA, as the bulls attempt to reach for $2.73. 

ADAUSDT

ADA/USDT 12-hour chart

The bulls’ journey toward the optimistic target would still be tricky, as a resistance line given by the Momentum Reversal Indicator (MRI) has appeared at $2.30, which sits near the 100 twelve-hour SMA acting as a heavy headwind for Cardano price. ADA would also need to clear the $2.36, $2.50 and $2.64, corresponding to the 38.2%, 50% and 61.8% Fibonacci retracement levels, respectively, before reaching the projected target given by the chart pattern.

However, if a spike in sell orders occurs, Cardano price may fall toward the lower boundary of the symmetrical triangle at $2.10 to retest the trend line as support. If this level fails to hold, the bullish outlook may be ruined as ADA may drop toward the 200 twelve-hour SMA at $2.07 and at the same time put a bearish target of a 23% decline at $1.62 on the radar for the Ethereum-killer.

 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Semler Scientific reveals plans to buy 105,000 BTC by 2027

Semler Scientific reveals plans to buy 105,000 BTC by 2027

Semler Scientific (SMLR) announced a three-year plan on Thursday to boost its Bitcoin holdings to 105,000 BTC by the end of 2027. The announcement comes after it appointed a new executive to spearhead its Bitcoin strategy.

Ethereum Price Forecast: ETH network growth explodes as GENIUS Bill advances

Ethereum Price Forecast: ETH network growth explodes as GENIUS Bill advances

Ethereum (ETH) is trading around $2,500 in the early Asian session on Friday despite a surge in new address growth over the past month. The development follows progress in digital assets regulations after the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) bill passed the Senate.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, XRP consolidate as traders await Trump’s decision

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, XRP consolidate as traders await Trump’s decision

Bitcoin (BTC) price is hovering above the key support level on Friday; a breach below this level could trigger a sharp decline. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and stabilized around their crucial levels, with a failure below their support levels indicating a potential correction ahead.

Top Crypto Gainers: OKB, Sei, Bitcoin Cash – Altcoins shine through amid market volatility

Top Crypto Gainers: OKB, Sei, Bitcoin Cash – Altcoins shine through amid market volatility

The top cryptocurrencies in the market remain quiet at crucial support levels, while some altcoins experience a bullish spark. Top performers over the last 24 hours include OKB (OKB), Sei (SEI), and Bitcoin Cash (BCH) with over 8% recovery and key resistance breakouts. 

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP