Will Cardano Surprise Everyone With a 30% Price Surge?
ADA/USD Daily Chart- TradingView
Looking at the latest daily chart for Cardano (ADA/USD) price, we can see a subtle but clear shift in momentum. After weeks of sideways consolidation around the $0.50–$0.60 range, ADA price has pushed higher, closing at approximately $0.628 at the time of writing. The Heikin Ashi candles are showing consecutive green bars, indicating steady buying pressure and reduced volatility compared to the sharp decline witnessed through late May and June.
The Relative Strength Index (RSI) adds an interesting layer here. Currently sitting at 58.07, the RSI has climbed out of the oversold zone and is steadily approaching the bullish territory above 60. This is the first time in over a month that the RSI has shown a decisive upward trajectory, indicating that buyers are regaining control.
Can Cardano Price Reclaim the $0.70–$0.80 Zone?
Analyzing the visible Fibonacci levels and resistance bands on the chart, ADA price is approaching the first key resistance near $0.70. If this level is decisively broken with a daily close above $0.70, the next logical targets sit near $0.75 and $0.80. These levels align with the previous local tops from April and early May.
A simple percentage calculation shows the upside potential. From the current level at $0.628 to the $0.70 mark is 11.5% A move to $0.80 would offer about 27% upside from the current level. This presents a reasonable swing trade setup for medium-term traders if buying pressure sustains.
What Does the RSI Momentum Say?
The RSI reading at 58 is crucial. In past ADA price cycles, an RSI crossing 60 has often preceded sharp momentum moves. For example, the last time ADAs RSI crossed from 60 to 70 on the daily timeframe, the price surged nearly 35% in less than two weeks. If history echoes itself, a similar RSI push could project ADA into the $0.75–$0.80 band quickly.
Is There a Risk of Rejection?
No prediction is complete without acknowledging the downside. If Cardano price fails to clear $0.70 and gets rejected, we could see a pullback to the support region at around $0.58–$0.60. This area has shown strong buying interest before, evidenced by the long lower wicks on previous candles and the base formed in late June.
The key invalidation level for bullish traders is the $0.58 mark. A daily close below it could send ADA price back to retest $0.55 and possibly lower if broader market sentiment weakens.
ADA Price Prediction: Cardanos Path Looks Promising but Needs Confirmation
Cardano price daily chart is sending early signals of a possible breakout. The Heikin Ashi candles turning decisively green, the RSI pushing towards bullish levels, and clear Fibonacci extensions all align to paint a mildly optimistic short-term picture. A confirmed daily close above $0.70 could open the door for a push towards $0.75 and even $0.80, offering traders double-digit gains if momentum holds.
However, traders should watch for fake-outs and monitor the RSI carefully. Sustained RSI strength above 60–65 would validate the breakout thesis. For now, Cardano price appears to be waking up — and the next few sessions could be critical in determining whether ADAs next stop is $0.80 or another retest of its lower range.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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