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Cardano (ADA) price has been trading in a relatively tight range lately, even as it bounces back from short-term dips. After touching lows near $0.85, ADA has rallied to hover around $0.87–$0.90, showing modest recovery but facing resistance just above that zone. Volume appears steady but not explosive, hinting at cautious buying rather than strong conviction. Over the past week, the price has lost some upside momentum, despite attempts to break above prior resistance levels.
So, key questions now: Can ADA push past $1.00 this month, or will it be capped at ~$0.95? And if it breaks through, is there enough strength to sustain a move toward $1.10–$1.20 before month-end?
Ever since the start of the second half of the year, the ADA price rally has been printing consecutive higher highs and lows. The token is experiencing some correction after failing to sustain within the pivotal resistance range. With this, yet another higher low seems to be in the making, which could eventually offer a good entry for the investors.
In a wider perspective, the ADA price has reached a decisive phase. The token is testing the support of the rising wedge, which is believed to be broken soon. The MACD has turned bearish, but the RSI still sustains within the upper bands. This suggests the bulls have a significant strength. Besides, the Bollinger bands are also going parallel with each other, suggesting the token remains within a consolidated phase.
Therefore, no major price movement can be expected from the Cardano price rally this week or until the upcoming Fed rates intensify the volatility of the market. However, this could be a short-lived rally, as the trade counts and active addresses remain stagnant around the lower range. Hence, the ADA price may break the support of the rising wedge and test the support of the Bollinger bands at around $0.78 and trigger a rebound towards the resistance zone between $0.93 and $0.98, reaching $1.
