Cardano's Price Converges with 50-Day Average, Anticipating Breakthrough Above $0.90
Cardano, the popular cryptocurrency, is currently trading near $0.8215, following a 2.59% daily decline. The 50-day moving average is acting as a short-term resistance level for Cardano, with traders watching closely for a decisive close above or rejection at this crucial point.
Recent chart data shows ADA forming higher lows since early 2023, indicating an ongoing uptrend. This bullish sentiment is further supported by the analysis of crypto analyst Sssebi, who notes that Cardano is getting squeezed into the 50-day moving average on the daily chart.
The Relative Strength Index remains around 50, leaving room for momentum to swing either way. A move through resistance could build momentum, while failure could extend consolidation. Trading volume has cooled after a June spike, indicating potential consolidation before the next market move.
The idea is that if the low is already in place, ADA could be entering a new wave higher. Another trader known as The Penguin described ADA's chart as one of the strongest high-timeframe setups. The Penguin pointed to a completed correction and outlined a wave structure that could support targets above $10 over time.
Longer-term investors are seeking exposure around current ADA levels. Long-term chart analysis suggests potential ADA targets above $10 if bullish wave structures hold. A daily close above the 50-day moving average could lead to upside momentum towards $0.90 and $1.00.
However, the outcome depends heavily on Bitcoin's broader trend. As with many cryptocurrencies, the performance of Cardano is closely tied to that of Bitcoin. If Bitcoin continues to rally, it could boost Cardano and other altcoins.
The last significant directional change in Cardano's (ADA) price that could break the previous stagnation was observed around early September 2025. Technical analysis indicated that important chart marks and trends might lead to an upward movement.
In conclusion, the 50-day moving average now sits directly above the price of Cardano, acting as both resistance and a trigger point. Traders will be keen to see whether ADA can break through this level to signal a potential new wave higher.
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