Cardano Price Stuck in Range Ahead of CPI Report

Cardano's price has been stuck in a tight range for several sessions, unable to decisively close above $0.2310 or break down through $0.2132. The 20-day and 200-day EMAs are compressing the price action, with the Parabolic SAR trending higher and support holding at the same Fibonacci level for multiple days. This kind of compression usually resolves with a larger move once price finally clears one side of the range. According to an analyst, 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. The setup resembles conditions that preceded major moves in the past, including the run into 2021. Bitcoin's first golden cross of this bear-market cycle has also added a macro wrinkle, as it historically precedes higher prices within about 45 days. However, the pattern often includes an initial dip first, potentially testing the $75,000 or even $71,000 range before BTC works toward new highs. Cardano derivatives volume jumped 28.60% to $760.69 million over 24 hours, but open interest barely moved, up just 0.35%. The positioning remains long-heavy, with Binance's account ratio sitting at 2.02 and its top traders even more long at 2.42.