Cardano Faces Resistance Near $0.80 After 10% Rally

Cardano's price is currently trading near $0.788, facing resistance near the $0.80 Fibonacci level. This resistance comes after a sharp rebound from sub-$0.72 zones, driven by technical breakout patterns and renewed risk appetite across altcoins. The recent rally has been supported by bullish cues from broader crypto majors and improving sentiment. However, short-term indicators suggest a cooling of momentum, with the Relative Strength Index (RSI) nearing overbought conditions.

On the 4-hour chart, Cardano has decisively broken past the 20, 50, and 100-EMA zones, reclaiming ground above $0.75 and $0.78. The price action remains supported by the middle Bollinger Band at $0.748, while the upper band currently caps upside at $0.785. The increased trading volume signals buyer participation near the recent breakout zone. From a pattern structure standpoint, Cardano has invalidated the previous descending wedge and surged into the $0.78–$0.80 resistance band. However, with RSI approaching 70 and MACD lines beginning to flatten, momentum may be due for a short cooldown.

Zooming into the 30-minute chart, Cardano's price action shows a strong vertical climb that may soon meet short-term exhaustion. A minor bearish divergence is appearing between price and RSI, hinting at slowing bullish momentum despite the recent price spikes. Support zones to watch include $0.775 and $0.758, which coincide with Fibonacci and EMA clusters. If these levels hold, Cardano could maintain its bullish structure and potentially retest $0.80 again. A rejection here, however, could open a retest toward $0.752 or even $0.735.

The 1-day chart shows Cardano building a base above the 0.5 Fibonacci retracement at $0.8005, making this zone critical for sustained upside. A daily close above $0.80 would confirm a breakout continuation, possibly targeting $0.84 next. From a weekly perspective, the price volatility remains elevated but constructive. The price is currently pushing against the 0.5 Fib level with strength, having already cleared the 0.618 retracement at $0.676. Holding above $0.78 on higher timeframes will be vital for continued upward momentum.

Meanwhile, the RSI on the daily is nearing overbought territory, and MACD histograms are flattening out, suggesting that the immediate bullish impulse may be nearing completion. On-chain and market sentiment will be key in determining whether this rally transitions into a longer-term trend shift. While the price remains bullish, failure to close above $0.80 could invite profit booking, especially given RSI saturation. If bulls manage to absorb sell pressure and sustain above $0.775, the trend remains intact for further gains. Otherwise, a near-term pullback toward the $0.74–$0.75 zone could offer re-entry opportunities for buyers.