Cardano has been on a prolonged consolidation phase around the $0.62 – $0.65 range before a strong bullish breakout in November 2024. This rally pushed the price toward $1.20, following an almost parabolic move.<\/p>\n
However, after reaching this peak, ADA entered a bearish channel in early 2025, consistently making lower highs and lower lows. The recent price action suggests a potential breakout from this downtrend, with ADA rebounding from a support level of $0.6150.<\/p>\n
![\"Cardano](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/03\/ADAUSDT_2025-03-10_14-27-05.png\")
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ADAUSDT Analysis Source: Tradingview<\/p>\n
From a momentum perspective, the Relative Strength Index (RSI) is currently at 46.72, indicating a neutral to slightly bearish sentiment. However, with the RSI signal line nearing a crossover, there is potential for a shift in momentum towards the bullish side.<\/p>\n
If buyers step in, ADA could see an upward push toward the $0.80 resistance level, with a major target of $0.9568. If this level is breached, the next significant resistance stands at $1.20.<\/p>\n
For traders, the key support level remains at $0.6150, and holding above this could confirm a bullish outlook. A successful breakout above $0.75 – $0.80 could pave the way for further gains towards the $0.95 – $1.00 zone.<\/p>\n
However, if the price fails to sustain above $0.75 and falls below $0.6150, it could invalidate the bullish scenario, leading to potential downside risks. ADA is showing early signs of a trend reversal following the breakout from the bearish channel, and if buying momentum increases, a rally toward higher resistance levels is likely.<\/p>\n
Best Wallet Presale Closes On $11 Million – Next Big Crypto?<\/h2>\n
As Cardano struggles to regain its bullish momentum, investors are turning to Best Wallet (BEST),<\/a> which has already surpassed $10.9 million in its presale.<\/p>\n Best Wallet is quickly emerging as a top choice for crypto investors. It supports over 60 blockchains and features a built-in DEX, presale aggregator, and crypto debit card.<\/p>\n The Fastest Growing Wallet in Crypto!<\/p>\n In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀<\/p>\n 1️⃣ Exclusive alpha on new projects. This is why the Best… pic.twitter.com\/AT4yos1CmG<\/a><\/p>\n — Best Wallet (@BestWalletHQ) December 30, 2024<\/a><\/p><\/blockquote>\n\n
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.<\/p>\n