The post Cardano bulls reclaim control: Is ADA on the path to $0.9? appeared on BitcoinEthereumNews.com.

Volume and speculative interest would be the key to gauging short-term strength. The 1-day chart showed Cardano has potential, especially with Bitcoin poised to rally. Cardano [ADA] bulls have managed to climb past the $0.75 level and reclaim it as support. In doing so, the 1-day structure and the 4-hour structure flipped bullishly. Bitcoin [BTC] has hovered around the $107k mark for a little over a day now, threatening a breakout beyond the $108.7k all-time high. Source: CoinGlass This impetus could electrify the market, including Cardano. At press time, the Long/Short Ratio was only 0.97. The taker buy volume was not overwhelming enough to indicate short-term conviction. The long/shorts accounts data showed that the majority of accounts were positioned long, but their position sizes could be negligible. $1 level is the next target Source: ADA/USDT on TradingView Cardano fell below the long-term range’s low at $0.69, but was able to reclaim this level as support in early May. The ADA bulls kept the recovery going thereafter. The breach of the $0.756 level was a significant outcome. This level marked a swing high in mid-March, one set during the drop from $1.15 to $0.55. A move beyond these highs, followed by a retest as support in recent days, was a positive sign for buyers. The swing market structure aside, the sub-structure was also bullish. Therefore, Cardano was ready to rally higher. The OBV has been trending higher to show sizable demand for the token in recent weeks. The RSI retested neutral 50 as support, and appeared to be climbing higher. If the ADA price can bounce higher, it would be a sign that a move toward the mid-range resistance at $0.9 was coming. Source: ADA/USDT on TradingView On the 4-hour chart, the swing structure was bullish too. The significant swing points…

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Filed under: News - @ May 22, 2025 5:21 am