Cardano Price Surges 5% as Bullish Momentum Builds

Generated by AI AgentCoin World
Monday, Jul 7, 2025 1:36 am ET1min read
ADA
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Cardano (ADA) has shown signs of recovery, with its price starting a fresh increase from the $0.5650 support zone. The cryptocurrency has been trading above $0.5750 and the 100-hourly simple moving average, indicating a bullish momentum. There was a break above a key bearish trend line with resistance at $0.5760 on the hourly chart of the ADA/USD pair, suggesting that the price could start a fresh increase if it clears the $0.600 zone.

In the past few sessions,

Cardano
saw a decent upward move from the $0.5650 zone, similar to
Bitcoin
and
Ethereum
. ADA was able to recover above the $0.5750 and $0.580 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $0.6107 swing high to the $0.5630 low. This upward movement indicates that the price might face resistance near the $0.5925 zone, which is close to the 61.8% Fib retracement level of the downward move from the $0.6107 swing high to the $0.5630 low.

The first resistance is near $0.60. The next key resistance might be $0.620. If there is a close above the $0.620 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.650 region. Any more gains might call for a move toward $0.6650 in the near term. However, if Cardano’s price fails to climb above the $0.5920 resistance level, it could start another decline. Immediate support on the downside is near the $0.5850 level and the 100 hourly SMA. The next major support is near the $0.5650 level. A downside break below the $0.5650 level could open the doors for a test of $0.5450. The next major support is near the $0.5320 level where the bulls might emerge.

Technical indicators also support the bullish momentum. The MACD for ADA/USD is gaining momentum in the bullish zone, and the RSI for ADA/USD is now above the 50 level. Major support levels are at $0.5850 and $0.5650, while major resistance levels are at $0.5920 and $0.6000. These indicators suggest that Cardano is in a recovery phase, with the potential for further upward movement if it can break through key resistance levels.