Cardano (ADA) has been consolidating within an ascending triangle pattern, with its price fluctuating between the $0.79 and $0.80 mark as of February 15, 2025. This pattern has signaled a phase of indecision in the market, with ADA testing key support and resistance levels. However, traders closely monitor the price action to determine if the asset will break out above $0.80 or fall below its support at $0.76.
Additionally, the chart reflects the ongoing consolidation, with the Fibonacci retracement levels at 0.786 and 0.618, providing key support and resistance areas. Cardano’s price seems to be testing the 0.786 level, which has previously acted as a price barrier.
A breakout above the upper boundary of the ascending triangle could suggest a continued bullish move, while a drop below the $0.76 support could signal a bearish trend.
Recent price surge and market statistics
At the time of writing, Cardano’s price increased 7.75% over a 24-hour period, reaching $0.8240. This surge came after an uptrend that began around 6:00 PM on Feb. 16, 2025 and continued into the following day.
The trading activity of ADA has increased by 73.85%, with trading volume of $780.83 million and market cap of $29 billion. There are a total supply of 45 billion ADA and the circulating supply stands at 35.2 billion.
Despite the impressive price increase, ADA’s 24-hour volume-to-market cap ratio is 2.67%, which indicates moderate liquidity. This suggests that the price surge could be sensitive to changes in market dynamics.
Cardano technical indicators: MACD and RSI analysis
The bullish short term momentum can be deduced from MACD (Moving Average Convergence Divergence) line currently at 0.013 and the signal line at -0.038. The fact that the MACD followed by a positive MACD crossover signal means ADA’s price may start to move upwards but the fact that the histogram went from -0.291 to -0.051 indicates that momentum still remains weak.
Additionally, the RSI (Relative Strength Index) stands at 48.87, indicating neutral market conditions. A rise above 50 could signal increasing bullish momentum.
