Technical Analysis of Cardano: Market Outlook on June 29, 2025

Technical analysis of Cardano on June 29, 2025, focusing on support/resistance and key indicators.

As of June 29, 2025, Cardano (ADA) is in a corrective phase, with technical analysis pointing to a short-term bearish trend and potential consolidation at key support levels. The current price hovers around $0.75, near a key resistance zone between $0.84 and $0.88. This zone has historically acted as a strong price ceiling, and recent price action shows rejection from this level, indicating seller dominance in the short term. On the four-hour chart, Cardano failed to sustain a breakout above an ascending trendline and is now consolidating below it. A critical support zone lies around $0.71, which has previously shown strong demand. Should this level break, the next support is at $0.68, aligning with the 0.618 Fibonacci retracement level. The Relative Strength Index (RSI) is currently at 42, indicating a neutral state with a slight bearish bias. The 200-day Moving Average (MA200) at approximately $0.73 acts as dynamic support. If the price remains below this level, selling pressure could intensify. However, staying above the MA200 could signal a mid-term bullish reversal. From a price pattern perspective, Cardano is forming a descending triangle, which could indicate further downside. Still, a temporary bounce to $0.78 before resuming the downtrend is possible. Fundamental factors, such as Cardano network upgrades and advancements in its DeFi ecosystem, also influence price volatility and have recently attracted significant attention. For traders, the optimal strategy is to wait for confirmation of a breakout above resistance or below support. Setting stop-loss orders below $0.71 for short trades or above $0.88 for long trades is advisable. Risk management is crucial in this volatile market, as Cardano is prone to sudden price movements due to its nature and related fundamental news. Overall, the current outlook suggests Cardano may test lower support levels in the short term, but holding above the MA200 could indicate mid-term bullish potential. Traders should closely monitor the market and avoid impulsive decisions.