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Cardano Price Analysis: Short-Term Momentum vs Long-Term Risk
Cardano Price– Cardano (ADA) has been steadily climbing since early July, gaining nearly 17% after bouncing from the $0.536 level. Now trading at around $0.626, the altcoin is showing signs of short-term strength — but long-term uncertainty still lingers.
Bullish Momentum on the Daily Chart
Looking at the daily chart, Cardano (ADA) is forming a clear bullish structure with higher highs and higher lows. The Relative Strength Index (RSI) has pushed above the neutral 50 line, while the On-Balance Volume (OBV) shows a slow but steady uptick. Together, these indicators suggest increasing demand and bullish momentum in the short term.
Crucially, ADA has reclaimed the 50% Fibonacci retracement level, which could act as a springboard toward the next major resistance zone between $0.66 and $0.684.
Weekly Chart Still Bearish — Caution Advised
Despite the recent gains, ADA’s weekly structure remains bearish. Since December, the price has consistently formed lower highs and lower lows. The $0.684 level is especially important — it aligns with a fair value gap and serves as a strong supply zone.
A breakout above $0.684–$0.70 would be a major bullish confirmation, but until that happens, caution is warranted.
On-Chain Metrics Don’t Support a Full Recovery Yet
Development activity on the Cardano network has declined since February. Meanwhile, 180-day circulation and daily active addresses have remained weak, indicating reduced real-world usage and on-chain engagement.
If Bitcoin maintains its bullish trajectory, Cardano (ADA) could push toward the $0.68 level. However, unless Cardano breaks above that key resistance, a sustained rally remains uncertain. Traders may want to stay on the sidelines until a decisive breakout occurs.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
