- Cardano’s stuck in a triangle pattern—could go either way.
- Key support held at $0.613, with a possible bounce brewing toward $1.
- RSI hints at growing buyer interest, but ADA has tough resistance ahead.
While U.S. stocks took a nosedive last Friday, crypto didn’t flinch much. Bitcoin managed to cling above $80K, and altcoins like Cardano ($ADA) are hanging in there too—barely, but still. ADA, in particular, is trying to hold its ground, with chart watchers now zooming in on a potential symmetrical triangle pattern forming. Could this be the calm before a bullish breakout?
A Triangle With Teeth?
Right now, ADA seems caught in a squeeze—a symmetrical triangle, to be specific. You know, the kind where prices bounce between two converging trendlines until eventually, boom (or bust). It’s a setup that often signals an incoming move, but which way? That’s the question.
And here’s the twist: the upper boundary of this triangle is brushing up against the 200-day EMA, sitting right around $0.77. That’s a pretty big wall for buyers to break through.
Support Gets Tested, But RSI Says “Maybe…”
April didn’t exactly start with sunshine for crypto. A global tariff scare—courtesy of a fresh U.S. import policy—spooked investors, dragging prices down. ADA felt the heat, dipping to $0.613, a low not seen in weeks.
Still, support held. Kind of. ADA has already bounced about 8% from that level, trading around $0.66 at the time of writing. If this triangle really means what it usually does, ADA could be heading for a 58% upswing—yep, possibly back up to the $1 mark. But of course, nothing’s guaranteed.
The RSI (Relative Strength Index) is flashing some optimism, showing higher lows even as price retests the triangle’s bottom edge. That’s typically a bullish divergence, which means buyers might be gaining strength. Then again, it’s crypto. Nothing moves in straight lines.
EMA Cluster Clouding the Way
There’s also a whole cluster of exponential moving averages—20, 50, 100, and 200-day EMAs—all bunched up between $0.70 and $0.78. That zone? It’s thick with resistance. If ADA makes it that far, it’ll have to punch through that mess before it can even think about hitting $1.
But if price slips below the triangle’s lower trendline? That’s a problem. It could trigger a fresh wave of selling, scrapping the whole bullish setup.
