The Cardano price struggles to break out above $0.63. Due to market fluctuations, it is hovering between $0.622 and $0.634. Can the ADA price hit $0.64? Investors are asking this question.
The Cardano price has been quiet lately, barely moving past the $0.631 level. After a slight dip from $0.634, ADA is still trying to find direction, stuck in a tight range that has traders wondering: Is a big move just around the corner?
Let’s take a closer look at what’s happening with ADA price action and why this quiet phase might not last much longer.
Tight Range, Tighter Nerves: ADA Trapped Between $0.602 and $0.634
Right now, ADA price is caught in a zone between $0.602 support and $0.634 resistance. The Bollinger Bands on the 4-hour chart are squeezing in, showing a major drop in volatility. Whenever we see this kind of narrowing, it usually means a breakout – up or down – could be coming soon.
For traders, this is the kind of setup that calls for patience. The market is clearly coiling, and all it needs is the right catalyst to move.
Moving Averages Are Keeping Bulls in Check
One look at the chart, and you can see why the Cardano price is struggling to push higher. The short-term EMAS–20, 50, and 100 are all stacked closely together between $0.622 and $0.633, acting like a wall. Even the 200-period EMA isn’t far above at $0.66.
This setup shows hesitation. Bulls aren’t quite ready to take over, and bears haven’t made a big move either. For now, ADA’s trend leans bearish unless we get a clean break above those EMAs with strong momentum.
Momentum Builds, But It’s Far From Convincing
Some early signs of momentum are showing up, but they’re not strong yet. The RSI is hanging around 57.43 – not oversold, not overbought, just floating in the middle. The MACD has made a slight bullish crossover, but it doesn’t carry much weight unless we see stronger confirmation.
To add to the uncertainty, a recent sell signal popped up near $0.642. It doesn’t mean a major drop is coming, but it tells us that traders are cautious around this zone.
Short-Term Outlook: ADA Likely to Stay Range-Bound
Based on the current structure and recent price activity, the ADA price could continue to drift sideways, especially if no major news hits the market. For April 20, projections suggest a mild move up to around $0.629, which barely changes the bigger picture. The $0.620–$0.634 range has now become the critical zone to watch.
If ADA holds above $0.63, bulls still have a shot. But if it slips below that, we could see a pullback toward $0.602 again.
Bigger Picture: Patience is Key
Zooming out, major resistance still sits near $0.676, while solid support lies all the way down near $0.500. As long as Cardano price stays below the 200 EMA and within this tight range, it’s best to approach with caution. The next move could define ADA’s trend for the coming weeks.
The ADA price is in a holding pattern, but the tension is building. Whether you’re trading or just keeping an eye on the market, this is the time to watch, not chase. The squeeze is real, and the breakout, when it comes, could be sharp.
Source: Coinfomania / Digpu NewsTex