Cardano (ADA) Price Reached an All-Time High of $1.48 but Has Since Struggled to Break Higher
Cardano remains capped below key resistance around $1.23 after failing to hold support near recent highs of $1.28. Following a pullback to about $1.15, ADA has been trading in a range between $1.15 and $1.23.
At the time of writing, Cardano is trading near $1.18 as buyers struggle to retake the upper bound of that range. A decisive breakdown would likely push ADA toward $1.00 or lower, while some analysts believe the current market structure could still support a large upside move over the medium term.
Pseudonymous trader and crypto analyst Crypto Capo recently argued that Cardano’s parabolic rally might not be over, suggesting ADA could reach $3–$4 during the present bull cycle. Sharing a chart on social media, the analyst summarized his view:
“ADA, not going to lie, it looks very bullish for the mid and long-term.”
For context, ADA traded near $0.018 in March 2020 before rallying sharply in the final months of that year. The token climbed roughly 8,100% to reach its all-time high of $1.48 on 27 February 2021.
Cardano Price — 4-Hour Chart Analysis
On the 4-hour chart, Cardano is facing resistance around $1.20 and has dipped below the 100-period simple moving average (SMA) at approximately $1.18. The MACD is increasing inside bearish territory, and the RSI has fallen below 50, signaling that sellers currently have the edge.
If bears push prices lower and break the 61.8% Fibonacci retracement level near $1.12, sellers could next target $1.03 and then $0.97.
On the upside, ADA could gain momentum if it strengthens above the 50% Fibonacci level of the move from the $1.03 low to the $1.28 high. That midpoint coincides with recent intraday support around $1.16. Sustained buying above the 100 SMA would increase the odds of an immediate retest of recent highs near the 23.6% Fib level at $1.22 and the horizontal resistance at $1.23.
A clear break above $1.30 would open the door to the all-time high at $1.48. If bulls can sustain a breakout and engineer a bullish flip over the following weeks, ADA could extend toward $2.00 and potentially move in the direction of the $3–$4 range suggested by some analysts.