Cardano (ADA) has seen an uptick in price, positioning the token for a potential breakout as it moves towards the $3 mark. The coin’s 10.56% surge in the last 24 hours, reaching $0.7882, has drawn market interest.
With Cardano’s total market capitalization now at $27.74 billion, traders and investors alike are closely watching its performance. As Cardano continues its upward trajectory, several technical indicators suggest that the coin could soon target higher price levels, with $3 now within reach.
Price resistance and support levels
The price chart of Cardano shows several key resistance and support levels. We observe critical zones at various points. This includes the low point around May 2020 and the current high seen in early 2025.
ADA’s recent price action suggests that it may be preparing for a breakout as it navigates these critical levels. The price has tested support at lower points and resistance at higher levels, indicating a consolidation phase before a potential surge.
Market surge and trading volume
The increase in Cardano’s price comes alongside a notable rise in trading activity. ADA’s 24-hour trading volume surged by 89.80%, hitting $1.47 billion, reflecting solid market interest. The asset’s positive price movement has been supported by a steady climb from $0.7127 to its current value of $0.7882, signaling an ongoing bullish trend.
The total circulating supply of Cardano stands at 35.19 billion ADA, with a fully diluted valuation (FDV) of $35.45 billion. This strong valuation further indicates that ADA could be gearing up for a higher push in the market.
Technical indicators point to potential growth
Looking at ADA’s technical indicators, the price action appears poised for further gains. The Moving Average Convergence Divergence (MACD) histogram shows decreasing negative momentum. The MACD line (blue) is positioned just below the signal line (orange), indicating a bearish crossover.
However, the gap between these lines has been narrowing, suggesting a reduction in downward pressure. A crossover of the MACD line above the signal line in the near future could signal a shift towards positive momentum, which would likely propel ADA’s price upward.
The Relative Strength Index indicates a neutral market condition and currently sits at 42.69. Although ADA is neither overbought nor oversold, RSI rises gradually from lower levels, suggesting certain price movements. Thus, if the RSI is triggered and amplified over the 50 mark, there would be the potential for ADA to break past and test out of the new price levels above $3.
