Cardano Price Struggles at Descending Trendline as Breakout Hopes Hang in Balance
Cardano's price has been fluctuating around a descending trendline on the 4-hour chart, with every retest of this line resulting in a lower low. This pattern is evident in both the first and second retests, where the price fell away from the trendline, with the second retest breaking down in a single sharp candle.
The current situation has ADA sitting right back at that same trendline for a third look, with bulls watching to see if it will finally break through. A close above $0.2067 on the 4-hour chart would confirm this breakout and open the door to higher targets, including $0.2587, then $0.2885, with $0.3279 as the major resistance target.
On the other hand, if ADA closes below $0.1858, the next support level to watch drops to $0.1709. The current momentum reading of the RSI on the chart sits at 47.98, a neutral level that reflects a market still deciding whether this third trendline test holds or fails.
A recent piece of news has added context to the setup: Cardano has gone live as the public settlement layer for the Blockforce traceability network, with more than 500,000 supply chain documents already anchored on the network. This development feeds directly into the Cardano coin price prediction narrative, pointing to real usage building on the network.