Cardano (ADA) Gains Momentum and Breaks out – This Price Level Could Be Next

Cardano Breaks Out From Long-Term Range

The weekly time frame technical analysis shows that ADA has traded inside a long-term horizontal range since November 2022. Both the support and resistance of the range have been validated numerous times.

In October 2023, the ADA price began a rapid upward movement and broke out from the range the next month. The increase culminated with a high of $0.68 in December, a new yearly high.

While the price has fallen afterward, it bounced at the top of the range this week, creating a bullish candlestick.

The Cardano Community announced that the first “Buidler Fest” will start today. It is a two-day event where Cardano builders can connect and share. According to the Cardano team:

The Cardano Buidler Fest therefore aims at becoming a recurring event that will bridge that gap between various people involved in the concrete daily work of working with the Cardano and more generally blockchain stack, and provided technology-centric venue to share and discuss things that matter when one wants to be involved in building Cardano.