Cardano Nears Break Above $0.29, Could Open Path to $0.35

▲ Cardano (ADA) / AI-generated image

Cardano (ADA) is showing signs of preparing for a new upward rally as technical indicators improve while the price approaches a breakout above the key resistance level of $0.29.

According to cryptocurrency media outlet The Crypto Basic on February 27 (local time), Cardano recently confirmed a bottom within the support range of $0.23 to $0.25 and has since shown a gradual recovery. While trading volume has slightly declined, reflecting a cautious market stance, participants are closely watching whether the price can secure a position above the $0.29 resistance level.

The Relative Strength Index (RSI), a key technical indicator, remains around 50, maintaining a neutral balance and suggesting the potential for expanded volatility. A bullish crossover has also been observed in the Moving Average Convergence Divergence (MACD), indicating a revival of short-term buying sentiment. The improvement in these indicators provides technical grounds for renewed accumulation activity within the Cardano ecosystem.

Chart analysis suggests that if Cardano clearly breaks above $0.29 and turns it into support, the next target could open up toward the $0.35 level. Conversely, failure to overcome this resistance zone raises the risk of revisiting the $0.23 support level. The current consolidation phase is interpreted as a period of energy accumulation, with expectations that a breakout point is approaching.

Cardano has previously demonstrated sharp price surges after forming similar technical patterns, heightening investor expectations. With network upgrades and active developer engagement supporting its fundamentals, a technical breakout could serve as a powerful catalyst. Market experts identify a breakout accompanied by a significant surge in trading volume as the most critical confirmation signal.

Cardano’s next move is likely to be closely linked to liquidity changes across the broader cryptocurrency market, including Bitcoin (BTC). Despite ongoing macroeconomic uncertainties, the fact that Cardano maintains its own independent technical momentum is viewed positively. Investors are preparing strategic responses while watching for a stable close above the $0.29 level.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from its use. The content should be interpreted for informational purposes only.*