Key Takeaways

Why is Cardano hovering near $0.80?

ADA traded in the $0.757–$0.815 range, with Bollinger Bands oversold and RSI at 43.6, hinting at possible recovery.

What do on-chain signals show for ADA?

Exchanges recorded $66.82 million outflows, but shorts outweigh longs $43.5 million vs. $22.2 million, keeping sentiment cautious while accumulation suggests upside potential.

Cardano [ADA] has been stuck in a narrow range after losing trendline support, and traders are split on whether the next big move will be up or down.

ADA price momentum

However, the overall cryptocurrency market began to recover at press time.

Major coins, including Bitcoin [BTC] and Ethereum [ETH], recorded price gains of 2.10% and 2.75% respectively, and this positive momentum was also reflected in ADA’s price.

Cardano has been trading sideways for the past five days after breaking below a key ascending trendline.

At press time, ADA changed hands at $0.799, up 4.12% in 24 hours, with a 56% jump in trading volume to $852 million.

Analysts eye bold targets for ADA

Crypto analyst Crypto Patel noted that ADA’s structure mirrors its 2021 run from $0.09 to $2.94, highlighting resistances at $1.20 and $2.94, with long-term targets of $5.81 and $15.59.

Separately, a popular trader claimed ADA will “hit $2.00 very quickly,” though without data backing. The post still drew strong community engagement on X.