Cardano (ADA) just delivered an impressive move. The price climbed over 12%, rising from $0.685 to a high of $0.7710. Traders had waited for weeks as ADA traded sideways. Finally, bulls forced a breakout, pushing past the key resistance around $0.755.

Buyers Gain Control After Weeks of Consolidation

Over the past two weeks, ADA ranged between $0.685 and $0.755. Buyers and sellers wrestled for control during this period. However, bulls maintained a consistent defense of the $0.685 support level. Each dip into that zone triggered sharp recoveries. This buying pressure suggested growing bullish momentum beneath the surface.

Eventually, ADA broke the pattern. Price surged past the $0.755 resistance and closed strongly above it. This marked the first clear breakout since early March. Traders now see a flipped support zone forming around $0.755, which could offer stability in the short term.

Technical Indicators Confirm the Breakout

The technical picture supports the bullish move. The 50-day Exponential Moving Average (DEMA) is rising steadily and now trades below the current price. ADA has also moved above the 200-day EMA for the first time in weeks. These signals indicate a shift in momentum.

ADA’s recent breakout also confirms the strength of the accumulation phase. The tight consolidation beneath resistance allowed bulls to build pressure. Once momentum kicked in, price exploded past key levels. Now, ADA trades firmly above both major EMAs, reinforcing the bullish trend.

ADA Sets Sight on $0.8198 Price Target

Now that ADA has cleared $0.755, eyes are turning toward the $0.8198 level. This zone served as a major resistance during previous rallies. If bullish volume continues to build, a retest of that level seems likely. Traders will closely watch ADA’s behavior around $0.7710 to assess follow-through strength.

If bulls maintain pressure, a push to $0.8198 could happen within days. Momentum and sentiment remain strong, giving buyers the upper hand. However, the next move depends on how ADA reacts to this new trading zone.

Watch for a Potential Fakeout

Despite the strong breakout, caution remains necessary. Crypto markets often stage fakeouts before resuming range-bound behavior. If ADA fails to hold above $0.755, price could return to the previous range. A drop below this level would suggest bulls need more time to build momentum.

Read Also: Nubank Embraces Cardano and Algorand to Deepen Crypto Integration Across Latin America

In that scenario, support remains firm between $0.685 and $0.6995. This area has already served as a bounce zone multiple times this month. A revisit to this level could offer fresh entry points if bulls regroup.