TLDR
- Cardano price trades within an ascending broadening wedge on the 4-hour chart.
- ADA has held support near $0.245 after multiple tests in April.
- A move toward $0.278 to $0.280 would represent a 12% to 13% increase from current levels.
- Whale addresses accumulated over 819 million ADA during April.
- The Van Rossum hard fork and Midnight mainnet debut supported network development.
Cardano trades within a tightening range as analysts track a developing breakout setup. The asset holds firm near support while whale wallets increase exposure. Market data shows Cardano preparing for a potential move toward higher resistance.
Cardano Price Structure Points to $0.280 Test
Cardano trades inside an ascending broadening wedge on the 4-hour chart. Analyst Lingrid shared this structure in a recent TradingView update. She stated that ADA continues to hold the lower boundary near $0.245.
Price tested this support area several times through April, and buyers defended it each time. After reaching $0.268 on April 17, ADA returned to the lower band three times. Bulls maintained control between April 19 and April 23 and prevented deeper losses.
Lingrid explained that the pattern reflects expanding swings between resistance and support. She said, “If support holds, price could retest the upper boundary.” The upper range stands between $0.278 and $0.280.
Cardano currently trades near $0.248 at press time. A move toward $0.280 would mark a 12% to 13% increase. However, a close below $0.24 would weaken the setup.
The relative strength index stabilized near the neutral zone on the same timeframe. Selling pressure cooled after earlier declines in momentum. This shift supports the current consolidation phase.
Whale Activity and Network Updates Support Cardano Price Stability
On-chain data shows increased accumulation by large holders during April. Data indicates that 424 whale addresses purchased over 819 million ADA. These purchases totaled about $214 million based on average prices.
Whale wallets added exposure during the extended consolidation period. This accumulation reduced the available supply on exchanges. As a result, demand levels strengthened while price held above support.
CoinGlass data shows net spot outflows over the past 214 hours. Exchange withdrawals exceeded deposits during this period. Traders moved tokens off platforms and into long-term storage.
At the same time, the network was prepared for key upgrades. The Van Rossum hard fork advanced protocol development. Midnight’s mainnet debut also supported ecosystem growth.
Lingrid stated that buyers continue to defend the $0.245 zone. She said, “Repeated defense of support increases the probability of a rebound.” The structure remains valid while the price stays above $0.24.
Cardano maintains range movement despite macro headlines dominating broader markets. Geopolitical updates and political developments shifted attention elsewhere. However, ADA continued building its base during this period.
The asset remains inside the wedge formation that began on March 30. Price action continues to oscillate between expanding support and resistance lines. The next test lies near $0.278 to $0.280 if momentum improves.
The post Cardano Price Forms Base, Signals Move Toward $0.280 appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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