Cardano (ADA) is displaying signs of a potential breakout at the $0.69-$0.70 range in May, sparking investor interest in potential gains.
ADA price is currently consolidating below the 100-day and 200-day moving averages, with support at $0.675 and resistances at $0.745 and $0.768. A daily close above $0.745 could signal a breakout.
On the hourly chart, ADA is range-bound between $0.69 and $0.72, with the 200-hour SMA acting as support at around $0.699. Flipping $0.722 into support could push ADA towards $0.75 quickly.
Potential projections suggest ADA may target the $0.80-$0.85 range with a breakout above $0.745. Failure to hold $0.675 could lead to a pullback to $0.62-$0.64.