Cardano Price Forecast: ADA sets the stage for a 20% rally

Source Fxstreet
  • Cardano price hovers inside a range, extending from $0.433 to $0.521. 
  • A sweep of the range low seems likely before ADA starts a recovery rally to $0.521.
  • A decisive flip of the $0.433 support floor into a resistance level will invalidate the bullish thesis. 

Cardano (ADA) price has been in a consolidative phase for nearly a month. This sideways movement comes after a near 40% crash in early April. Going forward, a bounce in Bitcoin could see altcoins, including ADA, trigger a recovery rally.

Also read: Cardano on-chain indicators flash buy signals

Cardano price ready to move higher

Cardano price crashed 37% between April 9 and 13, along with the entire crypto market. After this sudden spike in selling pressure alleviated, ADA slipped into a rangebound movement between $0.433 and $0.521. 

As Cardano price hovers around the range low, investors can expect ADA to sweep the range low at $0.433 to collect the sell side liquidity resting below equal lows. This move might seem bearish at the time, but if it is followed by a quick and decisive recovery above $0.433, it would be a buy signal. 

This range low sweep is a move often employed by market makers or smart money to trap retail investors in the wrong direction. 

Hence, a recovery above $0.433 will likely be followed by an impulsive move that tags the range high at $0.521. This move recovery rally would constitute a 20% gain. However, in a highly bullish case, ADA could attempt a retest of the daily resistance level at $0.576, constituting a 33% gain measure from $0.433. 

ADA/USDT 4-hour chart

ADA/USDT 4-hour chart

If Cardano price slips below $0.433 but fails to recover above it, it would signal a weakness in the market. This move would produce a lower low and a lower high, suggesting a shift in the market structure favoring bears. Hence, the bullish thesis will face invalidation if it loses the $0.433 support floor.

This development is likely to be followed by Cardano price finding support around $0.385 level, which is roughly 10% away from $0.433. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Elon Musk is doing nothing to stop Tesla’s downfallTesla sales are collapsing worldwide, and Musk’s chaotic leadership and focus on political power plays are doing nothing to stop the downfall. The start of 2025 has been troubling, particularly in Europe, where Tesla saw a 45% drop in new registrations in January compared to the same period in 2024, with further declines in February. […]
Author  Cryptopolitan
Mar 24, Mon
Tesla sales are collapsing worldwide, and Musk’s chaotic leadership and focus on political power plays are doing nothing to stop the downfall. The start of 2025 has been troubling, particularly in Europe, where Tesla saw a 45% drop in new registrations in January compared to the same period in 2024, with further declines in February. […]
placeholder
Nvidia stock sinks 4% as Trump’s tariff plans rattle AI tradeNvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
Author  NewsBTC
Yesterday 01: 15
Nvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
placeholder
XRP Price Set For ‘Hot’ April With Low Fibonacci Levels And High $5-$8 TargetThe past 24 hours have been challenging for XRP holders. A sharp 5.8% decline in price has brought the asset close to testing critical support around $2, with selling pressure currently dominating XRP’s trading volume. The sentiment is turning bearish, but one analyst is confident in the cryptocurrency’s long-term trajectory, predicting that the altcoin is […]
Author  NewsBTC
Yesterday 01: 54
The past 24 hours have been challenging for XRP holders. A sharp 5.8% decline in price has brought the asset close to testing critical support around $2, with selling pressure currently dominating XRP’s trading volume. The sentiment is turning bearish, but one analyst is confident in the cryptocurrency’s long-term trajectory, predicting that the altcoin is […]
placeholder
PEPE Price Forecast: PEPE could rally to double digits if it breaks above its key resistance levelPepe (PEPE) memecoin approaches its descending trendline, trading around $0.000007 on Tuesday; a breakout indicates a bullish move ahead.
Author  FXStreet
Yesterday 05: 34
Pepe (PEPE) memecoin approaches its descending trendline, trading around $0.000007 on Tuesday; a breakout indicates a bullish move ahead.
placeholder
Gold price hits new all-time high ahead of Trump’s reciprocal tariffsGold price (XAU/USD) edges higher again for a second day this week and for the first day of the second quarter of 2025.
Author  FXStreet
19 hours ago
Gold price (XAU/USD) edges higher again for a second day this week and for the first day of the second quarter of 2025.
Related Instrument
goTop
quote