TLDR
- Cardano has reclaimed $0.75 as support, with bullish structure on both daily and 4-hour charts
- $932 million in ADA has left exchanges in 2025, similar to outflows before 2021’s rally to $3.10
- An independent audit investigating fraud allegations against Charles Hoskinson is expected to impact short-term price
- 74% of Binance traders hold long positions on ADA, showing market confidence
- Next resistance targets are at $0.84, $0.90, and potentially $1.32 if momentum continues
Cardano (ADA) has broken above the $0.75 price level, establishing it as a new support zone as bulls take control of the market. This price action comes as Bitcoin hovers around $107,000, potentially ready to break past its all-time high of $108,700.
The technical picture for Cardano has turned decidedly positive. On the daily chart, ADA successfully reclaimed the long-term range low of $0.69 in early May, with buyers continuing to push prices higher since then.
The breach of the $0.756 level marks an important technical development. This price point represented a significant swing high from mid-March, set during ADA’s decline from $1.15 to $0.55.
Market structure on both the daily and 4-hour timeframes has flipped bullish. The On-Balance Volume (OBV) indicator shows growing demand for the token in recent weeks, while the Relative Strength Index (RSI) has bounced above the neutral 50 level, signaling positive momentum.
On the 4-hour chart, Cardano has broken through a descending trendline resistance. The token has maintained a bullish structure since recovering from the $0.72 level.
Exchange Outflows Signal Growing Confidence
Data from TapTools shows that more than $932 million in ADA has left centralized exchanges in 2025. This pattern mirrors similar outflows observed in 2021, which preceded Cardano’s rally to its all-time high of $3.10.
The decreasing exchange supply could set the stage for another bullish cycle. Despite trading 75% below its peak price, Cardano’s recent activity has captured the attention of market analysts.
For the current uptrend to continue, ADA must maintain its position above the $0.68-$0.74 support range. If this level holds, the next target is the resistance zone at $0.84.
A successful break above $0.84 could accelerate the recovery toward the psychologically important $1 level. From there, further gains might push the price toward $1.32, a key target identified by market analysts.
The Long/Short Ratio for ADA currently stands at 0.97. While the majority of trading accounts are positioned long, the taker buy volume has not yet shown overwhelming conviction for short-term price action.
Audit Report and Market Sentiment
An independent audit investigating fraud allegations against Cardano founder Charles Hoskinson is currently underway. The claims suggest that Hoskinson altered information in the ADA ledger to improperly transfer funds.
Input Output Global has commissioned an audit firm and legal team to prepare a comprehensive report addressing these allegations. Hoskinson has stated that once the report is released, he will step back from public appearances and delegate social media interactions to a media team.
The outcome of this audit is expected to influence Cardano’s near-term price action. Depending on the results, it could either strengthen or weaken investor confidence in the project.
Meanwhile, trading data from Binance indicates strong bullish sentiment among retail and institutional investors. According to Coinglass, 74% of ADA-related trades on the platform are buy orders, suggesting that traders anticipate further price increases.
The current open interest in ADA futures contracts stands at $859 million. The high leverage combined with buyer confidence points to expectations of a move toward higher price targets.
Recent analysis also shows that large holders have accumulated over 40 million ADA within a two-day period, further signaling rising market confidence. The price breaking past the key $0.70 resistance confirms a bullish breakout pattern.
For traders looking to capitalize on potential price movements, increased trading volume would provide confirmation of the breakout. However, keeping an eye on Bitcoin’s price action remains crucial, as it continues to influence the broader cryptocurrency market.
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