Cardano (ADA) Shows Recovery, Is it Time to Buy?

Jakarta, Pintu News – Cardano (ADA) has recently shown signs of recovery after a decline. From the $0.5650 zone, Cardano’s price started to increase and is now in a consolidation phase, with the potential to break higher above the $0.5925 zone.

Cardano Price Recovery

In recent sessions, Cardano (ADA) experienced a decent bounce from the $0.5650 zone, following in the footsteps of Bitcoin (BTC) and Ethereum (ETH). Cardano managed to recover past the $0.5750 and $0.5800 resistance levels. The bulls managed to push the price past the 50% Fib retracement level of the move down from the $0.6107 high to the $0.5630 low.

In addition, there was also a break of the bearish trend line with resistance at $0.5760 on the hourly chart of the ADA/USD pair. Currently, the Cardano price is trading above $0.5750 and the 100-hourly simple moving average. On the upside, the price may face resistance near the $0.5925 zone, which is adjacent to the 61.8% Fib retracement level of the move down from the $0.6107 high to the $0.5630 low.

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Further Upside Potential

The first resistance is near $0.60. The next key resistance might be $0.620. If there is a close above the $0.620 resistance, the price could start a strong rally. In that scenario, the price could rise towards the $0.650 region. Further gains might trigger a move towards $0.6650 in the short term.

Possible Price Drop

If the Cardano price fails to rise above the $0.5920 resistance level, it could trigger another drop. Immediate support on the downside is near the $0.5850 level and the 100-hourly simple moving average. The next major support is near the $0.5650 level. In case of a downward break of the $0.5650 level, this could open the door for a test of $0.5450. The next major support is near the $0.5320 level, where the bulls might show up.

Technical Indicators

The hourly MACD for the ADA/USD pair is gaining momentum in the bullish zone. The hourly Relative Strength Index (RSI) for ADA/USD is now above the 50 level, indicating that there are more buyers than sellers in the market right now.

Conclusion

With favorable technical indicators, Cardano (ADA) shows potential for further recovery. However, it is important to pay attention to the resistance and support levels already mentioned in anticipation of further price movements.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Cardano (ADA) Turns Upward, $0.60 Next?. Accessed on July 8, 2025