• Cardano price is in a squeeze between the 55-day and the 200-day SMA.
  • ADA price sees the RSI coming out of the oversold territory and sees buy-side volume start to pick up.
  • A bullish outbreak looks to be unfolding as buy-side volume is growing by the day.

Cardano (ADA) price is range trading between the 55-day Simple Moving Average (SMA) and the 200-day SMA. The Relative Strength Index (RSI) points towards bulls slowly but surely buying into ADA price, paving the way for a bullish outbreak anytime soon. A pop above the 55-day SMA would open more upside and new all-time highs in the near term.

Cardano price sees buy-side volume pickup, building momentum for a breakout

Since October, Cardano price has been trading between $2.40 and $1.80, ranging between the 55-day SMA on the topside and the 200-day SMA to the downside. With both SMA’s moving towards each other, price action in ADA is consolidating and looks ready for a breakout either way. With a pickup in the RSI, pointing towards overall buying, expect a bullish breakout to unfold.

A break above the 55-day SMA would attract even more buyers, which are sidelined and are waiting to enter the uptrend. With that outbreak, expect the 55-day to deviate from its downwards trajectory and fall in line with the 200-day SMA, so both are rising. This would signal to  bulls that the uptrend is still very much alive and propel a massive uptick in buy-side volume.

ADA/USD daily chart

ADA/USD daily chart

ADA price could also see bulls wait for a retest around $1.89, which would be a second test of the 200-day SMA and provide the final entry point for buyers to push the RSI above 50. With that, bulls would start to control ADA price action and start the uptrend again with the first target at $2.40 and new all-time highs in the medium term. Add some favorable tailwinds from risk-on in global markets, and this should propel into an acceleration of the uptrend in Cardano price.



 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin consolidates ahead of MicroStrategy Q1 earnings, strategic Bitcoin reserve deadline

Bitcoin consolidates ahead of MicroStrategy Q1 earnings, strategic Bitcoin reserve deadline

Bitcoin price is extending its consolidation streak, trading around $95,000 on Wednesday, as traders await a decisive breakout. MicroStrategy’s Q1 earnings release and the approaching deadline for the Strategic Bitcoin Reserve have the potential to move BTC price.

Chainlink price offers mixed signals as supply outside of exchanges soars but network activity declines

Chainlink price offers mixed signals as supply outside of exchanges soars but network activity declines

Chainlink's supply outside exchanges has surged to 803.38 million from 778.87 million in under two months. LINK network activity declines, with new and active addresses falling from a recent peak.

Ripple Price Prediction: XRP price uptrend toward $3 looks steady

Ripple Price Prediction: XRP price uptrend toward $3 looks steady

Ripple (XRP) price hovers at $2.24 at the time of writing on Wednesday as bulls try to prevent the pullback from its April peak of $2.36 from extending further. If XRP holds above the immediate support at $2.21, a reversal could soon ensue.

THORChain announces integration of XRP stagenet ahead of the mainnet network launch

THORChain announces integration of XRP stagenet ahead of the mainnet network launch

THORChain announced on Tuesday that its stagenet development of its Ripple (XRP) integration is nearing the final step, with mainnet activation imminent. This integration enhances THORChain’s economic model by increasing swap activity and protocol fees. 

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge 

Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge 

Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday. 

Read full analysis
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.

Read More

BTC

ETH

XRP