- A breakout above this level could push ADA toward $2.00, while failure may lead to a decline toward $0.75 or lower.
- ADA surged 80% but faced setbacks due to economic uncertainty from Trump’s tariff announcement.
- Coincodex forecasts a 5.91% rise in March, with a potential ROI of 15.48% for long traders.
Cardano (ADA) has been on a wild ride lately, experiencing dramatic ups and downs in just a matter of weeks. The driving force? A surprising announcement from former President Trump about a Strategic Crypto Reserve, which named ADA as a key asset.
This news ignited a wave of optimism across the crypto world, pushing prices higher as excitement spread. But the rally was short-lived. Just as quickly as ADA soared, the market took a hit when Trump unveiled 25% tariffs on U.S. imports from Canada and Mexico, sparking fears of economic strain. The uncertainty triggered a broad selloff, dragging ADA down to $0.7570.
Cardano’s Consolidation: Key Levels for a Potential Breakout
According to analyst Ali, Cardano (ADA) is currently consolidating within a right-angled descending broadening wedge, with strong support along a descending trendline and resistance holding steady around $1.14. ADA has seen some wild price swings in recent weeks—after dropping to $0.6249 on February 3, it surged by 80.83% to reach $1.13 on March 3. However, a broader market selloff sent prices tumbling back down to $0.7570 before bouncing back 30%, bringing ADA to $0.9374 at the time of analysis.
If ADA manages to break and hold above $1.14, it could signal a strong bullish breakout, potentially pushing prices toward $2.00, backed by growing momentum and higher trading volume. A failure to surpass this important resistance could trigger a price retraction to $0.75 – $0.78 or potentially a decrease to $0.62 – $0.65.
Technical Indicators Signal Bullish Momentum for ADA
The MACD line shows a positive histogram with the MACD line trading above the signal line (0.0292), suggesting a bullish crossover. This indicates growing upward momentum, though it remains relatively weak.
The RSI stands at 57.14 , which suggests increasing buying pressure. ADA is showing signs of bullish momentum, supported by the MACD crossover and improving RSI. If buying pressure sustains, ADA could test higher resistance levels.
ADA March Price Outlook
According to Coincodex analysts,they predict ADA’s price to rise in March, with a projected change of 5.91% compared to current rates. The asset may reach a high of $ 1.100162 and a low of $ 0.947136, averaging around $ 1.006833. The potential ROI stands at 15.48%, suggesting a profitable opportunity for long traders.
