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$2 Cardano Will Happen Fast Just When Cardano Makes its Entry into the Bull Market

Jonathan Carls by Jonathan Carls
June 6, 2025
in Market, News, Price Analysis
Reading Time: 4 mins read
$2 Cardano will happen fast just when Cardano makes its entry into the bull market
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  • ADA finds strong buyer interest near $0.614–$0.620 amid rising market caution
  • Trading volume jumps 70%, hinting at growing investor speculation and activity
  • RSI and MACD reflect bearish bias, but oversold signals suggest a potential bounce

Cardano (ADA) continues to command attention in the crypto market as investors brace for the next bull cycle. Despite recent price setbacks, analysts and traders are keeping a close watch on support zones and trading activity. With price as of press time standing at $0.6441 down over 5% in the last 24 hours the cryptocurrency reflects signs of investor caution. 

However, market dynamics such as increased trading volume and a firm support base suggest ADA might be setting up for a sharp move once broader momentum returns. As ADA moves through a corrective phase, investors are speculating whether the $2 mark could arrive faster than expected once bullish sentiment fully returns.

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Price Structure and Support-Resistance Dynamics

Cardano opened the day at around $0.6786 before plunging to an intraday low near $0.614. This dip highlights the day’s dominant bearish tone. However, the coin managed to recover slightly, signaling that buyers are active near crucial support levels. 

The range between $0.614 and $0.620 is currently acting as a strong base, showing visible demand. If ADA retests this zone, short-term buyers might step in again.

On the resistance side, the $0.678 to $0.680 range remains a crucial level. It marked the day’s high and the tipping point before the sell-off. Additionally, $0.660 to $0.665 has emerged as a minor resistance zone after some brief price stabilization. These levels will need to be broken convincingly for ADA to signal any strong upward reversal.

Volume and Momentum Indicators Suggest a Pause Before a Push

Trading activity saw a sharp uptick, with 24-hour volume rising by over 70%. This increase suggests heightened interest, likely triggered by speculation or macro market cues. 

Volume and Momentum Indicators Suggest a Pause Before a Push
ADA/USD daily price chart, Source: TradingView

Notably, RSI stands at 35.36, indicating slightly oversold conditions. While it’s not a clear reversal signal, it suggests that the coin may soon stabilize or bounce slightly.

MACD analysis reflects a neutral-to-bearish setup. Both lines remain below zero, and no strong momentum shift has occurred. This lack of a crossover indicates traders are still waiting for a clear signal before taking major positions.

Open Interest Trends and Market Positioning

Open interest in ADA derivatives currently totals $385.8 million. Perpetual contracts dominate the figure, showing high trader engagement in short-term price moves. 

Source: Coinanalyze

Binance, Bybit, and OKX lead in open interest volumes. Although there’s been a 3.46% dip in open interest over the last 24 hours, the numbers still suggest significant market attention.

Tags: Cardano (ADA) NewsPrice Analysis

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$2 Cardano will happen fast just when Cardano makes its entry into the bull market
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