Cardano (ADA) seems to be sending mixed signals after its breakout, showing weakness due to a lack of buyers as selling pressure increases. The coin has been able to sustain the support level, but the overall momentum remains bearish.

At the time of writing, Cardano is trading at $0.2489, recording a 24-hour trading volume of $578.89 million and a market capitalization of $9.02 billion. Over the last 24 hours, ADA has declined by 4.89%, reflecting continued selling pressure in the market.

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Cardano Jumps After Wedge Breakout

On April 9, 2026, an analyst, Alpha Crypto Signal, noted that ADA had been behaving according to expectations based on a falling wedge pattern seen on its 4-hour chart. After breaching the upper resistance line of the pattern, ADA was able to hold above its short-term moving averages and even tested the area again for confirmation as a support level.

After this retest, there was a rise in ADA’s price of more than 10% on a short-term recovery basis. Nonetheless, the bullish trend faced a reduction when there was a rise in selling pressure, implying that most investors were settling for profits. In any case, the entire configuration remains intact provided that ADA does not fall below the breakout point.

Cardano Struggles Below Key Average

Although there was an initial breakout, ADA seems to be struggling with weakness in the overall trend. The price is trading below important moving averages like the 20 SMA ($0.2509), 50 SMA ($0.2629), and 100 SMA ($0.3009). This suggests that the current trend is bearish. In addition, the presence of stiff resistance around the 200 SMA ($0.4294) might prevent a large upsurge.

Technically speaking, there are signs of weak momentum. For instance, the current RSI value stands at 46.52, remaining below the neutral threshold of 50, implying that there is no strong buying pressure.

However, the MACD indicator suggests some ambiguity. As long as the MACD line remains below the signal line, there is an upward tendency in its movement. There is a little positivity in the histogram, which shows that there might be some change in the direction, though it cannot be confirmed yet.

Overall, Cardano continues to be in a cautious mode. Although the latest breakout was positive in that it suggested the possibility of recovery, a stronger trend is needed for further upward moves.

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Filed under: Bitcoin - @ April 9, 2026 8:30 am