The post Could Cardano Double? Chart Patterns Say This appeared on BitcoinEthereumNews.com.
Cardano (ADA) has shown signs of life in the daily chart, but the big question for traders is whether this quiet consolidation near $0.58 can fuel a sustainable move back above $0.70. Let’s break down the chart structure, key indicators, and what Cardano price levels really matter in July 2025. Cardano Price Prediction: Is ADA Price Building a Base Around $0.58? ADA/USD Daily Chart- TradingView The daily Heikin Ashi chart shows ADA price currently trading near $0.579, moving sideways for the last several days. This tight range indicates a clear base-building phase. After a steep downtrend that started in mid-May, Cardano price found support near $0.50 — bouncing modestly but struggling to break above the $0.60 resistance zone. This range between $0.50 and $0.60 is crucial: if buyers keep defending $0.50, the odds of a short-term rally increase significantly. What Does RSI Tell Us About ADA Price Momentum? The Relative Strength Index (RSI) on the daily timeframe sits at 43.7, slightly below the neutral 50 mark. This tells us momentum remains bearish overall, but it’s no longer in oversold territory — suggesting the intense selling may have cooled off. In June, RSI dropped close to 30, hinting at a potential exhaustion of bears. Since then, the RSI has started to curve back up, showing early signs that buyers are regaining confidence. A sustained break above 50 on the RSI would strengthen the bullish reversal narrative. Can ADA Price Break Resistance? Looking at the chart, ADA price faces immediate resistance around $0.58–$0.60. If the bulls can push above this zone with volume, the next target lies at $0.70, which acted as support in April and early May before the breakdown. Let’s do a simple projection: Current support: $0.50 Current resistance: $0.60 Breakout target = Resistance + (Resistance – Support) = $0.60…