Cardano Price Analysis: ADA Breakout to $1 Imminent?

The post Cardano Price Analysis: ADA Breakout to $1 Imminent? appeared first on Coinpedia Fintech News

Cardano is making its way back into the talks of the crypto market. This time around, the fuel for the buzz comes from Midnight sidechain and the Glacier airdrop. These developments have come at a time when on-chain data and patterns suggest ADA may be gearing up for an uptrend. In this price analysis, we explore the potential moves the ADA price could make in the short term.

ADA Price to Eye for $1 Soon?

Cardano’s ADA is presently changing hands at $0.7284, while recovering from a weekly low of $0.7238. Despite a -9.61% drop over the past week, ADA price is still up +18.58% over the last month. The biggest signal comes from the $932 million in outflows from centralized exchanges, a pattern that mirrors ADA’s 2021 accumulation before it chugged up to an all-time high of $3.10.

Looking at the 4-hour chart, ADA is attempting to reclaim its 9-period SMA at $0.7338. The RSI is sitting at 44.11, indicating bearish momentum is weakening and may reverse if volume increases. A break above $0.75 could serve as confirmation of a bullish divergence forming, which could take the price to $0.84, then to $1. In contrasting events, the support remains at $0.66.

Also read our Cardano (ADA) Price Prediction 2025, 2026-2030

FAQs