5 hours ago
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TLDR:
- ADA price nears $0.67 resistance after weeks of forming higher lows.
- A daily close above $0.67 could push ADA toward $0.83–$0.91.
- Analysts highlight long-term accumulation and smart money activity.
- ADA’s price pattern shows a breakout from a descending channel may be close.
Cardano’s ADA token is showing signs of renewed strength as traders watch a crucial resistance level. After months of hesitant buying on medium timeframes, the asset appears to be positioning for a potential breakout.
Market watchers note that sustained higher lows over the past two years suggest steady accumulation. This behavior has fueled growing anticipation of a bullish reversal.
With ADA currently testing a vital technical zone, analysts say a rally may be on the horizon.
ADA Price Nears Pivotal Breakout Level
Cardano is trading just below the $0.605 mark, continuing to fluctuate within a long-term descending channel. According to price data, ADA has slipped nearly 4% over the last 24 hours but remains up 4.46% on the week.
Analysts identify the $0.67 level as a key resistance point, which, if surpassed, could open the door to a larger rally.
A daily close above $0.67 could set Cardano $ADA on course for a rally to the $0.83–$0.91 range! pic.twitter.com/r5oS6ZKkyA
— Ali (@ali_charts) July 3, 2025
Technical strategist Ali noted that a daily close above $0.67 could trigger a price move toward the $0.83 to $0.91 range. He pointed to Fibonacci retracement levels, which reflect the asset’s repeated bounces from support areas, including $0.6231.
These patterns suggest bullish momentum is gradually building as the asset approaches this critical threshold.
Traders from XForceGlobal highlighted that Cardano’s market structure reflects consistent accumulation. They observed that each new low has been followed by protection of previous lows, indicating smart money interest.
Over the past two years, ADA has shown a clear trend of forming higher lows, reinforcing the possibility of an eventual upward breakout.
$ADA#Cardano's #ADA is in a completely different timeline and it may very close to finally come back into the game from a timing perspective. The bottoms have been hesitantly bought up on the medium timeframes the past few months; however, it's looking primed for an eventual… pic.twitter.com/Lug89kUfKA
— XForceGlobal (@XForceGlobal) July 4, 2025
In terms of market structure, analysts see a potential Elliott Wave pattern forming—a leading expanding diagonal. This variation accounts for the asset’s wide price swings and adds to the case for long-term bullish behavior.
According to chart watchers, such a pattern often precedes strong moves in volatile assets.
Cardano Price Action Holds Within a Defined Channel
The broader technical setup shows ADA moving steadily within a descending price channel since Q1 2025. This structure has guided the asset’s price behavior for several months, capping both highs and lows.
However, the asset now appears to be challenging this pattern, with the $0.67 level acting as a breakout trigger.
If ADA closes above that point on the daily chart, it would signal a departure from the bearish formation. Ali believes such a breakout could invite new buying pressure, reinforcing bullish momentum toward the next Fibonacci levels near $0.83.
With a recent 7-day uptick and strong technical backing, ADA’s setup is attracting retail and institutional traders. The long-term accumulation, higher lows, and pattern alignment may point to a major shift ahead. As the price approaches the crucial $0.67 barrier, Cardano’s next few sessions could decide the near-term direction for the crypto asset.
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