Cardano (ADA) failed to break above the $0.70 resistance level after a recovery attempt
Whale addresses sold approximately 200 million ADA (worth $136.7 million) throughout March
Technical indicators show mixed signals with resistance at $0.75 and support at $0.63
Analysts predict potential long-term growth to $50.48 by the end of 2025 if ADA follows its historical ascending channel pattern
ADA is currently trading around $0.68, down about 7.87% over the past week
Cardano (ADA) has been experiencing a deepening downtrend in recent weeks, with its price hovering around the $0.68 mark as of April 2025. After attempting a recovery above the $0.70 zone, the cryptocurrency faced rejection and has since been consolidating near $0.65 with risks of further losses.
The cryptocurrency initially saw a recovery wave from the $0.6350 zone, similar to movements in Bitcoin and Ethereum. ADA managed to climb above the $0.680 and $0.6880 resistance levels but faced strong selling pressure above $0.70.
A high was formed at $0.7090 before the price corrected most of its gains. The correction took ADA below the $0.650 level, breaking a bullish trend line with support at $0.6720 on the hourly chart.
Currently, ADA is trading below $0.680 and the 100-hourly simple moving average. The price might face resistance near the $0.6720 zone, with the first major resistance around $0.6950 and the next key resistance at $0.700.
If ADA can close above the $0.70 resistance, it could start a strong rally potentially toward the $0.7420 region. Further gains might push the price toward $0.7650 in the near term.
Whale Activity Raises Concerns
One of the main factors behind Cardano’s recent price decline appears to be major selling by large holders. According to analyst Ali Martinez, whale addresses sold nearly 200 million ADA, worth approximately $136.7 million, throughout March alone.
This substantial selloff coincides with Cardano’s more than 20% decline in the first quarter of 2025. The whale exodus comes at a time when ADA is struggling to maintain upward momentum, with $0.70 emerging as a key resistance level.
Cardano has displayed a defined price structure since November, showing a pattern of higher highs followed by short-term corrections. After reaching a peak of $1.165 on March 2, ADA has been unable to reclaim higher ground, forming strong resistance near $0.7799.
Technical indicators remain mixed at this point. A moving average cross is beginning to signal a potential dead cross, which would typically indicate further bearish movement ahead.
Support and Resistance Levels
Traders and investors are closely watching several key price levels that could determine ADA’s next move. The nearest support level sits at $0.63, which if broken, could lead to further decline or a potential reversal if the price retests this level.
If Cardano falls below this support, the next level to watch would be between $0.60 and $0.61. Any move below $0.63 appears bearish and opens the possibility of ADA testing these lower levels.
On the upside, Cardano must clear significant resistance levels to regain bullish momentum. The daily moving averages at $0.73 (200-day) and $0.75 (50-day) represent important barriers.
The Relative Strength Index (RSI) currently stands at 46.27, just below the neutral level of 50. This indicates that ADA hasn’t yet established a bullish trend, though it could be in the process of reclaiming positive momentum if buying pressure increases.
The MACD indicator currently shows a bearish outlook as the MACD line remains below the signal line. However, there are signs of weakening bearish momentum, as the histogram shows increasing green bars.
Long-Term Outlook Remains Positive
Despite the current downtrend, some analysts maintain a positive long-term outlook for Cardano. According to TradingView analysis, ADA has been following an established ascending channel pattern over the years, which has historically led to major price surges.
In the past, a similar channel pattern saw ADA rise from $0.20 to over $2.70 in 2021. If this pattern continues, some analysts believe ADA could push toward $50.48 by the end of 2025.
For the short term, experts predict that ADA could continue trading within its established range between $0.63 and $0.75. A breakout above the $0.75 resistance could set the stage for a stronger upward move, with some analysts setting a target of $1 for the next few weeks.
However, other analysts warn that Cardano is at a critical junction. If ADA fails to reclaim the $0.70 to $0.80 support zone, it could face a deeper correction, with some suggesting it might test levels as low as $0.30 in a severe breakdown scenario.
ADA’s price is currently sitting just above the $0.68 mark, up by 0.90% in the last 24 hours. However, it remains down by about 7.87% over the past week, indicating continued difficulty in reversing the downtrend.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.
By Nermeen Nabil Khear 
