Cardano (ADA) Hovers Near Breakout at $0.70, +14% Gain Possible

Cardano (ADA) is currently showing signs of a potential breakout, with its price hovering around the $0.69–$0.70 mark. Investors are closely watching to see if the cryptocurrency can deliver significant gains in May or if this is just another false signal. The daily chart indicates that ADA is consolidating just below the 100-day and 200-day moving averages, with immediate support at $0.675 and resistance clusters at $0.745 and $0.768. The Accumulation/Distribution Line (ADL) has reached its highest level in over a month, suggesting that smart money may be accumulating before a larger move. However, for a more convincing breakout, ADA must close a daily candle above $0.745.

On the hourly chart, ADA appears range-bound between $0.69 and $0.72, with attempts to break above $0.722 met with resistance. The 200-hour SMA is providing soft support around $0.699, keeping the price afloat despite recent intraday pullbacks. Volume remains stable, and the hourly ADL is showing a slight downward drift, indicating that short-term traders may be taking profits. If ADA can flip $0.722 into support on the hourly, it could push toward $0.75 quickly.

If ADA breaks the $0.745 resistance, the next target zone would be the $0.80–$0.85 range, representing a +14% gain. More bullish scenarios could push ADA to test $0.92 by late May, offering a ~30% gain from current levels. However, failure to hold $0.675 could pull ADA back to $0.62–$0.64, which has acted as strong support through March and early April.

Several factors could trigger a rally, including a daily candle close above $0.745, a volume spike with ADL confirming accumulation, and Bitcoin holding or gaining ground above $95K. If these conditions align, ADA price could deliver on the “huge gains” narrative. If not, expect consolidation or minor pullbacks before another attempt.

Cardano's technical structure and bullish sentiment point toward significant gains in the near future. Veteran chartist Maelius has published a comprehensive analysis, arguing that a clean break of the demand zone could unleash enough momentum to retest the upper channel boundary, which now lies close to $1.50. The weekly relative-strength index and Wave-Trend Oscillator support this thesis, with the path of least resistance pointing north. Analyst Ali Martinez also believes that Cardano is heading toward a crucial test at $0.74, with potential targets at $0.88, $1.31, and $1.50 by late May.

In summary, Cardano's price is showing strong technical alignment but is stuck just beneath major resistance. The bullish momentum is real, but still needs confirmation. If May begins with a solid breakout above $0.745, the rally could pick up steam quickly. Cardano holders should keep eyes on volume, support levels, and macro sentiment. The setup is there — now it’s all about execution.