Cardano (ADA) just had a big move. The price jumped 12% in a single day, making it one of the strongest performers in the market right now. After weeks of slow decline, ADA broke out of a falling trend and is now pushing higher. Traders are watching closely to see if this rally can continue – or if it’s just a short-term bounce.
Cardano Breaks Out of Downtrend
For over a month, the Cardano price was stuck in a falling channel. The price kept making lower highs and lower lows, showing clear weakness. But that changed this week. ADA broke above the top of the channel and took off fast. Within a day, it moved from around $0.62 to nearly $0.70.
This breakout is important. It shows that buyers are stepping in again, and the trend might be shifting. Volume also picked up, which adds more strength to the move. Right now, the breakout looks real – but the next few days will be key to confirm it.
Looking at technical indicators, the signs are mostly bullish. The Ultimate Oscillator is above 72, showing strong momentum. The Rate of Change (ROC) is also high at 24.69, which tells us price has surged quickly. And the Bull/Bear Power is positive too, meaning bulls are still in control.
But there’s also a warning sign. When indicators go this high, it usually means the coin is overbought. That doesn’t mean the rally is over – it just means a short-term pullback or sideways movement wouldn’t be a surprise.
What’s Next for ADA?
If buyers keep pushing, the next target is around $0.72. That level acted as resistance back in May. If the ADA price breaks through it, the door opens for a move to $0.78 or even $0.80. That’s where the 200-day moving average sits, and it could be a tough spot to break.
On the downside, if the price drops, the first support to watch is $0.65. That’s where the breakout started. If it holds, the uptrend is still intact. But if it falls below $0.60 again, it might mean the breakout has failed.
For now, ADA looks strong. Momentum is on its side, but it’s moving fast – so short-term traders should expect some back-and-forth before the next big move.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
