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Invezz 2026-04-29 08:16:43

Can Cardano break $0.25? ADA eyes breakout as Bitcoin holds $77K

Cardano (ADA) is testing key resistance at $0.25 as Bitcoin and Ethereum consolidate below major supply zones. However, after the recovery from recent lows, could ADA see a decisive breakout? Bitcoin's resilience above $77,000 despite broader market jitters gives bulls a slight advantage, with a retest of $80,000 likely to bring buyers back into the limelight. Bullish sentiment around upcoming Cardano events and commentary from founder Charles Hoskinson could also fuel gains. Cardano (ADA) bounce hits key resistance Santiment data ranks Cardano among the top cryptocurrencies by total holders, with Ethereum nearing 190 million and Bitcoin approaching 60 million, while Cardano has over 4.6 million and Dogecoin around 8.3 million. Recently, we highlighted the continued price decline that had pushed the average ADA wallet to a -43% return. This is related to holders who have been active on the Cardano network for at least the past year. In terms of price gains, ADA has rebounded sharply from supportive demand levels near $0.23. This has allowed bulls to carve out a higher‑low structure that has pushed the price towards the $0.25 resistance. This zone aligns with prior swing highs and confluence of pivot‑based resistance, making it a natural profit‑taking and liquidation area for short‑term traders. However, broader market structure suggests ADA remains in an accumulation‑to‑recovery phase. Open interest and volume are gradually firming as traders position for a potential break above the $0.25 overhead band. If buyers push for a sustained close above $0.26, ADA would likely invite follow‑through buying toward the intermediate barrier near $0.30. A failure to clear this resistance could trigger a fresh pullback toward the $0.20 support mark. Cardano price technical analysis From a technical standpoint, ADA’s price action shows improving momentum despite a still‑neutral to slightly bearish near‑term bias. On the daily chart, the asset trades above intraday support, with relative strength index (RSI) trending upward but not yet overbought. This leaves room for additional upside if bullish pressure persists. Indicators such as the moving‑average convergence divergence (MACD) and short‑term EMAs also reflect fading downside momentum. The ADA price is right at the middle line of the Bollinger Bands. Cardano price chart by TradingView Derivatives data also hint at a shift in sentiment, with subtle increases in open interest and a slight tilt toward longer‑term holding positions. These metrics reinforce the view that a breakout attempt is plausible if selling pressure continues to wane. But bulls need to close decisively above $0.25 with expanding volume. Even though Cardano trades in tandem with other altcoins, it could yet explode in 2026. Currently, its market value is up 4% in the past month. Despite struggling year-to-date, bulls are well off the lows seen on February 5, 2026. The post Can Cardano break $0.25? ADA eyes breakout as Bitcoin holds $77K appeared first on Invezz

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