Cardano Price Breakout Hinges on This Week's Inflation Reports

Cardano's price has been range-bound above $0.2132, but this week's CPI and PPI reports may decide which direction it breaks.

According to TradingView data, ADA is trading near $0.2195, just above the 20-day EMA at $0.2096 and the 100-day EMA at $0.2003. The 50-day EMA at $0.1985 remains below it, while the 200-day EMA at $0.2423 is well overhead.

An analyst cited by Cheeky Crypto Unfiltered noted that Cardano's weekly RSI has fallen to one of its lowest readings in roughly eight years, combined with ADA returning to a major historical support zone, which resembles conditions that preceded major moves in the past, including the run into 2021.