Cardano Price Stuck at Key Resistance Level

Cardano's price is stuck between $0.20 and $0.22 as it struggles to break through resistance. In recent hours, ADA reached an all-time high of $0.22303 but quickly retreated to $0.218. The rejection has put the bullish setup from the previous 4-hour chart under pressure.

The two most important levels are $0.22 on the upside and $0.20 on the downside. A confirmed breakout above $0.22 will give bulls a target of around $0.34, while a breakdown below $0.20 could lead to a drop to $0.18-$0.16.

According to Glassnode data, ADA's market cap ranged between $7.4 billion and $8.4 billion as the price moved between $0.20 and $0.22. This shows that there is significant volatility in Cardano's market capitalization.