Cardano Surges 40% From April Lows, Eyes Breakout Above $0.7730

Cardano has experienced a significant surge, rising over 40% from its early April lows, indicating renewed bullish sentiment within the altcoin market. As the broader crypto market navigates macroeconomic uncertainties and consolidates near major resistance levels, Cardano is entering a critical phase. The price action remains range-bound, but investor sentiment is shifting as key technical patterns emerge that could define the next move.

Top analyst Carl Runefelt recently noted that Cardano is consolidating within a symmetrical triangle on the 4-hour chart, a pattern often preceding sharp breakouts. This technical formation suggests that ADA is poised for a decisive move, with bulls and bears vying for short-term control. The current range is tightening, with volatility expected to return once a breakout direction is confirmed.

A move above $0.7730 would signal bullish continuation and potentially trigger another leg up toward the $0.85–$0.90 zone. Conversely, losing support near $0.6280 could spark a broader correction. As long as ADA maintains its structure and stays above key moving averages, the bullish trend remains intact.

Cardano is showing signs of strength despite trading in a tight consolidation range just below the $0.75 mark. After gaining over 40% from its early April lows, ADA has entered a crucial phase, with bulls gradually regaining control. The recent price action suggests that a breakout could be on the horizon, especially if ADA maintains its current support levels and builds further momentum.

For the past few days, Cardano has traded sideways, struggling to break above the $0.75 resistance level. While this range-bound movement has frustrated some traders, it also reflects market stability, a common precursor to large directional moves. If bulls manage to push ADA above the $0.7730 resistance, a sustained rally could follow, potentially targeting the $0.85 and even $0.90 zones.

Runefelt shared technical insights showing that Cardano is forming a 4-hour symmetrical triangle, a structure that often precedes sharp breakouts. The apex of the triangle is nearing, meaning a decisive move is likely within the next few sessions. The key bullish breakout level remains at $0.7730. On the flip side, a breakdown below the $0.6280 support would invalidate the bullish structure and could trigger a broader retracement.

Overall, Cardano remains well-positioned for upside if it can reclaim resistance and confirm a breakout. Bulls will need to step in decisively to avoid a fakeout or extended consolidation. As the broader crypto market consolidates near highs, ADA’s setup is one of the more promising among large-cap altcoins. The next move could set the tone for Cardano’s trend in the weeks ahead.

Cardano (ADA) is currently trading at $0.6963, consolidating just below the 200-day moving average (SMA) at $0.7766 and slightly under the 200-day exponential moving average (EMA) at $0.7113. This tight compression suggests a pivotal moment is near, especially as ADA attempts to hold its ground above the $0.67 short-term support.

Price action on the daily chart shows that ADA has been coiling in a narrow range following its 40% rebound from April lows. Despite the broader market showing strength, ADA hasn’t yet managed to break above the confluence of moving averages overhead—a necessary step to flip the market structure decisively bullish. The $0.77-$0.78 level remains the critical resistance to reclaim. A daily close above this zone could validate a breakout and push ADA toward the psychological $1.00 mark, last tested in early January.

Volume has been relatively muted during this consolidation, which typically precedes a major move. On the downside, losing the $0.67 level would be a bearish signal and could open the door to a retest of $0.62 or even $0.58.