Cardano price has been facing significant price fluctuations recently, with its value hovering around $0.68 as of April 2025. Traders and investors are watching closely to see whether ADA can bounce back to $0.70 or face further declines towards $0.60.
Crypto Market Volatility Drives ADA’s Recent Price Action
Over the past few days, Cardano’s price has seen moderate fluctuations. After dipping to a low of $0.663, ADA price briefly rebounded to reach highs of $0.69. Despite these ups and downs, the cryptocurrency closed on the green side, which points to at least some of the buying pressure.
The price action states that a general bullish trend was seen where most of the cryptocurrencies moved up, then down.
Overall market has remained very unstable and traders have been seen transferring their positions by buying during any falling. Consequently, ADA’s price was able to remain somewhat stable and maintain its position above some important support levels. The 24-hour chart indicates that Cardano’s price is currently sitting just above the $0.68 mark, up by 0.90%. Nevertheless, it is down by about 7.87% in the past week, which hints at poor performance in reversing the downtrend.
ADA Price Support and Resistance Levels to Watch
Traders are paying close attention to ADA’s key support and resistance levels. The nearest support level is $0.63, which, if broken, will imply further decline in the value, or a possible reversal of the trend if the price retests this level.
If Cardano goes below this level, the subsequent level of support may be between $0.60 and $0.61. Any move below $0.63 looks reasonably bearish, and opens the possibility of ADA testing these particular lows.
ADA/USD 1-day price chart (Source: tradingView)
On the other hand, Cardano must clear its resistance levels to regain bullish momentum. The daily moving averages at $0.73 (200-day moving average) and $0.75 (50-day moving average) are important barriers to watch. As of now, the RSI stands at 46.27, just below the neutral level of 50. An RSI below 50 means that ADA is not yet in a bullish trend, although it could be in the reclaiming process if only the buying pressure rises. At the moment, the MACD Is show a bearish outlook as the MACD line is below the signal line.
However, there are signs of weakening bearish momentum, as the histogram shows increasing green bars. This suggests that while the market is still in a bearish phase, ADA may soon experience a bullish reversal if the MACD crosses into positive territory. Moreover, ADA’s price action also forms a Falling Wedge pattern, which is typically considered a bullish reversal pattern despite the death cross formed ealier today threatening a 25% ADA price dip.
Analyst Outlook for Cardano’s Price Movement
Crypto analysts are mixed in their outlook for Cardano in the short term. Some experts predict that ADA could continue to trade within its established range between $0.63 and $0.75.
However, a breakout above the $0.75 resistance could set the stage for a stronger upward move, with some even setting a target of $1 for the next few weeks. Moreover, according to a TradingView analysis shared, Cardano price has been following an established ascending channel pattern over the years. This pattern has historically led to significant price surges when ADA moved between its upper and lower trendlines. In the past, a similar channel saw ADA rise from $0.20 to over $2.70 in 2021.
Source: TradingView
The TradingView chart suggests that if ADA continues to follow this pattern, it could see significant upside potential in the long term. Analysts believe ADA might push towards $50.48 by the end of 2025, as it follows this channel’s upward trajectory. Such a move would require continued market optimism and strong demand for ADA.
On the flip side, analysts like Ali Martinez warn that Cardano is at a critical juncture. If ADA fails to reclaim the $0.70 to $0.80 support zone, it could see a deeper correction. Some experts suggest that ADA might test the lower $0.30s, though this scenario would require a more severe breakdown from current levels.
The post Will Cardano Price Bounce Back to $0.70 or Crash to $0.60? appeared first on CoinGape.
