Cardano (ADA) posted a calm but notable increase over the past week, rebounding from around $0.22 on September 20 to a weekly high above $0.26. It is currently trading at about $0.2565, with a weekly gain of roughly 16%, while most major coins moved sideways.
This rise was not a one-off jump; it came in stages. ADA fell to $0.235 on September 24 before quickly resuming its climb, with buyers entering on each dip— a price pattern that is positive and often appears at the start of bullish trends.
Technical analysis: clear bullish momentum
Cardano closed above its 200-day exponential moving average for the first time since April at $0.2395, and it also broke above the $0.245 level, which had been the price ceiling during spring—turning both levels into support. Meanwhile, the Relative Strength Index (RSI) is at 66, above the signal line but not entering overbought territory, indicating strong momentum without being excessive.
Will ADA reach $0.30?
If the coin manages to maintain a daily close above $0.245, the next target on the chart is $0.30—a round number and a former support area from the spring, which also makes it an important psychological level. Above $0.30, the next resistance lies at $0.35. The scenario remains favorable for buyers as long as the price holds above the 200-day moving average; a weekly close above $0.26 would confirm the breakout and open the way toward $0.30 over the coming weeks.
What could cause ADA to drop again?
The main risk is a failed breakout; if Cardano falls again below the 200-day moving average at $0.2395, the entire rally could look like a "bull trap," potentially pushing the price back to $0.22 or the September low near $0.20. In the worst case for this cycle, the June bottom at $0.139 would still hold. ADA is still far from its yearly high near $0.285, meaning the market needs additional evidence before chasing higher levels.
⚠️ Disclaimer: This content is for informational purposes only and is not investment advice. Trading in cryptocurrencies involves high risk.@Binance Square Official