Cardano’s 17% Surge: Why $0.85 Is the ADA Price Level to Watch Now

ADA surged 17% to $0.78, recovering from March’s 40% drop as market sentiment shifts bullish.Short-term ADA holders profit while long-term investors lag, signaling potential end to bearish cycle per MVRV data.Cardano’s price has risen over the past three days, climbing 17% to $0.78 as broader market conditions improve. The increase raises questions about whether the altcoin can recover from a 40% drop recorded in March.Source: SantimentData from the MVRV Long/Short Difference metric shows long-term Cardano holders currently face minimal profits, with some at a loss. In contrast, short-term holders who acquired ADA in the last month are in positive territory.This gap often narrows when newer buyers absorb selling pressure from short-term traders, a pattern that historically aligns with the end of bearish cycles. ETHNews analysts suggest this shift could help stabilize prices and support gradual recovery.Technical Indicators Favor Upward MovementThe Moving Average Convergence Divergence (MACD) tool signals growing bullish momentum for Cardano. Green bars on the MACD histogram are expanding, indicating positive market sentiment. The absence of a bearish crossover in the near term reinforces the likelihood of continued upward movement. These factors align with ADA’s recent push toward the $0.80 resistance level, a threshold that could determine its next phase.Source: TradingviewCardano now aims to reclaim $0.85 as support, a level that would solidify recent gains and open a path toward $0.99. Full recovery to its March peak of $1.13 remains possible but would depend on sustained buying pressure. A failure to hold above $0.74, however, could trigger consolidation between $0.66 and $0.74, stalling the current rally.Source: TradignviewWhile technical signals and market trends suggest ADA may continue rising, the altcoin’s path remains tied to broader crypto market behavior. The interplay between short-term profit-taking and long-term holder patience will shape its trajectory.Source: TradingviewCardano (ADA) is currently trading at $0.8164, up +5.03% on the day, extending a powerful short-term rally. Over the past week, ADA has climbed +16.72%, and +29.18% over the past month, signaling a strong bullish reversal from previous consolidation levels. However, on a year-to-date basis, ADA is still down -3.31%, suggesting that the asset is only now beginning to recover from the broader Q1 market downturn.Technically, ADA has formed an inverse head-and-shoulders pattern after rebounding from its 50-day SMA around $0.67, which has acted as a launchpad for the current breakout.Source: TradingviewThe next major resistance lies between $0.83–$0.85, with a bullish target projected at $1.01 if it can clear the neckline with volume support. RSI levels remain bullish but not yet overbought, indicating more room to run in the short term. The support zone to watch is $0.78–$0.75, which should hold if the breakout sustains.The post Cardano’s 17% Surge: Why $0.85 Is the ADA Price Level to Watch Now appeared first on ETHNews.