Cardano ADA Gains 29.81% in July Amid Bullish Breakout Signals

Cardano (ADA) has recently shown signs of a potential bullish breakout, with price action and whale behavior indicating growing optimism among investors. After a short-term pullback that saw the price retreat to the $0.7280 support zone, ADA began to rally again, forming a base above $0.73 and pushing past key resistance levels including $0.7450 and $0.7650. A breakout above the $0.7710 level on the hourly chart was also observed, suggesting that bullish momentum could continue [1].

The current price of ADA remains below $0.80 and the 100-hourly simple moving average, but analysts are closely monitoring this level as a critical resistance. A successful move above $0.80 could signal a new upward trend, with potential targets set at $0.880 and eventually $0.920 [2]. Technical indicators such as the MACD and RSI are also showing positive momentum, with the MACD gaining strength in the bullish zone and the RSI rising above the 50 level. These signals support the possibility of a near-term rally [1].

On the downside, the price faces immediate support near $0.770, followed by $0.7520 and $0.7280. A breakdown below $0.7520 could bring renewed bearish pressure and test the $0.70 level. However, analysts note that the current consolidation phase appears to be a technical reset rather than a reversal, allowing the asset to build momentum for a more sustainable upward move [3].

Whale activity also points to a bullish bias, as large holders continue to convert ADA into other assets, signaling confidence in its long-term potential. This trend suggests that institutional and high-net-worth investors are preparing for a potential breakout [4]. Additionally, the growing trading volume—up 4.84%—further supports the idea that ADA is attracting increased market interest [7].

While some analysts predict a 1,000× price surge for ADA, as suggested by Charles Hoskinson, it is important to distinguish these forecasts from actual market performance. For instance, while ADA surged over 38% in the past month, reaching $0.78, its recent weekly decline has created uncertainty about the short-term direction [5].

A golden cross breakout has also been identified, reinforcing the bullish narrative. This technical pattern, combined with a confirmed bullish setup, suggests that ADA could be on the verge of another upward move. Analysts have set key resistance levels at $0.95 and above, with a potential move toward $1 being seen as a confirmation of the bullish case [6].

Despite these positive signals, some caution is warranted. A 7% weekly decline has raised concerns among short-term traders, particularly as broader profit-taking across the crypto market has influenced ADA’s price movements. However, the upcoming Starstream upgrade is expected to play a key role in reinforcing bullish momentum and providing a catalyst for further gains [7].

The Cardano ecosystem appears to be strengthening, with ADA posting a 29.81% gain in July, pushing it closer to key price levels that could unlock further upside. Analysts continue to monitor these levels, with $0.64 and $0.80 identified as critical support zones. The overall market context, including broader profit-taking across cryptos, has also played a role in ADA’s price fluctuations [9].

Source:

[1] NewsBTC https://www.newsbtc.com/analysis/ada/cardano-ada-aims-higher-0-80/

[2] Coindoo https://coindoo.com/cardano-ada-vs-unilabs-finance-unil-which-crypto-is-set-to-explode-next/

[3] OKX https://www.okx.com/en-us/learn/cardano-bullish-breakout-whale-activity-market-trends

[4] Binance https://www.binance.com/en/square/post/27656693450690

[6] CoinCentral https://coincentral.com/cardano-ada-price-bulls-watch-1-target-after-golden-cross-breakout/

[7] Cryptoboom https://www.cryptoboom.com/cardanos-bear-trap-deepens-but-smart-money-eyes-breakout-on-volume-surge-and-starstream-upgrade/

[8] OKX https://www.okx.com/learn/cardano-price-upgrades-competition

[9] marketpulse.com https://www.marketpulse.com/markets/profit-taking-continues-to-weigh-on-cryptocurrencies/