Cardano (ADA) price is quietly consolidating below the $0.70 mark, suggesting a possible breakout towards $0.80 as it trades above short-term support.
The daily chart indicates a potential rally as ADA is attempting to reclaim the 20-day and 50-day moving averages, with Fibonacci retracement levels pointing to a resistance band at $0.72–$0.76.
On the hourly chart, ADA price forms a base around $0.66 with short-term bullish bias indicated by hourly candles closing above SMAs and attempting a breakout above the 200-hour SMA.
A bullish rally is likely if ADA can break key resistance levels, with potential short-term targets at $0.72 and $0.75 before aiming for $0.80, while support breakdown could lead to a downside towards $0.52.