Cardano ADA Near $0.98 Resistance As Triangle Pattern Nears Breakout

Cardano’s native token, ADA, is currently in a critical phase of its price action as it consolidates near $0.927 within a narrowing triangle pattern, a setup historically associated with a potential breakout either to the upside or downside [1]. Technical analysts have highlighted the $0.98 level as a key resistance that has previously blocked ADA’s upward movement. A decisive close above this level could trigger a bullish rally, with price potentially moving toward $1.00 and beyond to $1.050 in the near term [2].

The recent pullback below $0.90 has raised bearish concerns, especially as the price has also fallen below the 100-hourly simple moving average, a key technical benchmark. The bearish momentum is further supported by the MACD indicator, which is showing increasing bearish divergence, and the RSI, which has dropped below 50, signaling stronger selling pressure [3]. Immediate support is currently seen at $0.84 and $0.8250, which, if broken, could open the door to a test of the $0.80 level [4].

Conversely, a bullish scenario remains in play if ADA can first retest and break above $0.8920, then follow through with a breakout above $0.940. This would confirm the triangle’s bullish bias and potentially lead to a strong rally toward $1.00. However, traders are advised to remain cautious, as false breakouts in the past have led to sharp reversals [5].

Analysts have also noted that the broader context for ADA includes long-term potential, with some suggesting that a breakdown below $0.92 could push the price toward $0.80. On the other hand, a sustained move above $0.98 might lead to a test of the $1.10 resistance level [6]. These price levels are seen as critical for shaping the medium-term direction of ADA.

Institutional activity has also increased, with Grayscale launching an ADA trust and futures volume surging to a five-month high [7]. While these developments suggest growing institutional interest, it is important to note that such forecasts are speculative and based on technical patterns rather than confirmed market action.

With the price hovering near key levels and technical indicators pointing to heightened volatility, the coming sessions will be crucial for determining whether ADA will break out of its current pattern or continue its downward consolidation. Traders are advised to monitor price behavior around $0.98 closely, as a successful breakout could signal the beginning of a new bullish phase for the asset.

Sources:

[1] Blockonomi, [https://blockonomi.com/cardano-ada-price-technical-analysis-shows-critical-resistance-at-0-98/](https://blockonomi.com/cardano-ada-price-technical-analysis-shows-critical-resistance-at-0-98/)

[2] The Tradable, [https://thetradable.com/crypto/cardano-ada-price-on-edge-098-breakout-could-spark-major-rally-ig--a](https://thetradable.com/crypto/cardano-ada-price-on-edge-098-breakout-could-spark-major-rally-ig--a)

[4] AInvest, [https://www.ainvest.com/news/solana-news-today-ada-price-tests-0-90-support-futures-volume-hits-5-month-high-2508/](https://www.ainvest.com/news/solana-news-today-ada-price-tests-0-90-support-futures-volume-hits-5-month-high-2508/)

[6] CoinCentral, [https://coincentral.com/cardano-ada-price-triangle-pattern-points-to-potential-1-10-breakout/](https://coincentral.com/cardano-ada-price-triangle-pattern-points-to-potential-1-10-breakout/)

[7] AInvest, [https://www.ainvest.com/news/cardano-ada-surges-12-record-6-96-billion-futures-volume-2508/](https://www.ainvest.com/news/cardano-ada-surges-12-record-6-96-billion-futures-volume-2508/)