Cardano [ADA] price prediction – 8% rally next, but here’s why you should be careful!
2025-07-11 06:15:56
Main Idea
Cardano (ADA) shows signs of a potential short-term rally, with a possible move to $0.66-$0.68, but faces resistance at $0.684 and lacks strong on-chain demand indicators.
Key Points
1. Cardano has gained 17% since early July, trading at $0.626, but the weekly chart shows a critical support level at $0.535 (78.6% Fibonacci retracement).
2. The 1-day chart indicates bullish momentum with RSI above 50 and OBV showing steady demand, suggesting a potential climb to $0.66-$0.68.
3. Resistance at $0.684 (78.6% retracement) is a key supply zone; breaking past $0.68-$0.7 would signal strong bullish conviction.
4. On-chain metrics show declining development activity and lukewarm daily active addresses since March, indicating weak organic demand.
5. A breakout beyond $0.68 depends on Bitcoin's bullish trajectory, but current on-chain data suggests a lack of strong conviction for a sustained recovery.
Description
Traders and investors can expect a Cardano price move to $0.66-$0.68 this month.