Cardano Gains Buying Demand as It Retests $0.43 Resistance: What’s Next for ADA Price?

Cardano has been witnessing a significant jump in its price over the last 24 hours. Several regulatory developments and on-chain activities hint at an upcoming breakout for ADA price. According to leading analysts, Cardano witnessed a pullback last week, triggering accumulation among long-term buyers. As a result, ADA price has recovered this week, aiming for a breakout above key resistance levels.

Cardano Price Chart

If the price drops below the moving averages, ADA could slide to $0.38 and then to $0.33. Buyers will likely defend the $0.33 level strongly, because falling below it could send the price down to the October low of $0.272.

A positive sign would be a break above $0.434 with the price closing higher. If that happens, Cardano could rise to around $0.50, which is an important resistance level. Buyers need to push the price above $0.50 to show that a strong recovery is underway.

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.