Does Cardano still have the same cult-like fervor as it did in 2021?

Key Takeaways

Why is Cardano hovering near $0.80?

ADA traded in the $0.757–$0.815 range, with Bollinger Bands oversold and RSI at 43.6, hinting at possible recovery.

What do on-chain signals show for ADA?

Exchanges recorded $66.82 million outflows, but shorts outweigh longs $43.5 million vs. $22.2 million, keeping sentiment cautious while accumulation suggests upside potential.

Cardano [ADA] has been stuck in a narrow range after losing trendline support, and traders are split on whether the next big move will be up or down.

ADA price momentum

However, the overall cryptocurrency market began to recover at press time.

Major coins, including Bitcoin [BTC] and Ethereum [ETH], recorded price gains of 2.10% and 2.75% respectively, and this positive momentum was also reflected in ADA’s price.

Cardano has been trading sideways for the past five days after breaking below a key ascending trendline.

At press time, ADA changed hands at $0.799, up 4.12% in 24 hours, with a 56% jump in trading volume to $852 million.

Analysts eye bold targets for ADA

Crypto analyst Crypto Patel noted that ADA’s structure mirrors its 2021 run from $0.09 to $2.94, highlighting resistances at $1.20 and $2.94, with long-term targets of $5.81 and $15.59.

Separately, a popular trader claimed ADA will “hit $2.00 very quickly,” though without data backing. The post still drew strong community engagement on X.

Technical levels to watch for Cardano

According to ADA’s daily chart, the altcoin has consistently encountered resistance at the $1.20 level. So far in 2025, ADA has tested this level more than three times, and each time it faced a price reversal.

AMBCrypto’s technical analysis suggested that ADA’s price action was in an unclear direction, as it moved in a tight range between $0.7574 and $0.8156 after breaching a key support level.

Seemingly, ADA’s consolidation could break in either direction. If it breaks the upper boundary, the market could see a strong price recovery, whereas a break below the lower boundary could trigger a quick downside move.

At press time, the technical indicator Bollinger Bands hinted at a potential recovery.

In fact, the daily chart showed that ADA hovered near the lower boundary of the Bollinger Bands, suggesting that the altcoin was in oversold territory and could soon experience a price reversal.

Meanwhile, the RSI at 43.6 points to neutral momentum. Market sentiment could push it in either direction.

On-chain signals: Outflows vs. shorts

Despite the unclear market direction, investors and long-term holders appeared to continue accumulating ADA tokens, according to data from CoinGlass.

Exchanges witnessed an outflow of $66.82 million worth of ADA over the past week. This substantial outflow hints at potential accumulation and could trigger an upside rally if market sentiment shifts.

On the other hand, traders appeared to have a bearish outlook. CoinGlass data showed that over the past week, traders continued to bet on the downside.

The Liquidation Map highlighted clusters at $0.757 (longs) and $0.838 (shorts). Traders built $22.2M in long leverage but $43.5M in shorts, tilting sentiment bearish.

Until this imbalance shifts, ADA may struggle to reclaim the $1.00 handle.