TLDR:
- Cardano price currently at around $0.785-$0.79, dropping 4% after a 19% rally last week
- ADA maintains support above the key $0.75 level despite increased volatility
- Charles Hoskinson hints at multiple delayed partnerships emerging after Midnight upgrade
- Brave Wallet recently integrated ADA support, increasing utility
- Technical analysis suggests a potential rise to $1.08 if support holds
Cardano (ADA) has experienced price fluctuations after a strong performance last week. The cryptocurrency saw a 19% rally recently but has since pulled back, dropping around 4% to trade at approximately $0.785.
Despite this short-term correction, ADA has maintained support above the important $0.75 level.
The price reached a weekly high of $0.864 before reversing course. Sunday saw a 4.17% crash, followed by more volatility in recent days.
The pullback comes after testing higher levels, with traders watching to see if the support zone holds.
Traders are monitoring whether this is a temporary retest before another leg up or the beginning of a deeper correction.
Technical Indicators Point To Potential Recovery
Technical analysis of Cardano’s price action reveals an inverted head and shoulders pattern with a neckline near $0.75. This bullish pattern suggests a possible 41% upward move if the pattern plays out.
The target price calculated from this pattern is approximately $1.08, which aligns with the 50% Fibonacci retracement level.
A short-term hurdle exists at the 38.20% Fibonacci level near $0.92.
The Relative Strength Index (RSI) peaked near overbought territory before reversing, showing a drop in momentum during this retest phase.
The 50-day and 200-day Exponential Moving Averages (EMAs) are rising and may form a golden crossover, which would be a positive technical signal.
If ADA fails to hold the $0.75 support, the price could fall to the 50-day EMA at $0.71.
The current price action suggests consolidation below the 23.6% Fibonacci retracement level of the recent decline.
New Partnerships Boost Community Sentiment
The Cardano community remains optimistic despite the current price volatility. This positive sentiment stems from recent developments and announcements.
Brave Wallet recently integrated ADA token support, enhancing Cardano’s real-world utility and application. This integration represents a major step forward for the ecosystem.
Charles Hoskinson, Cardano’s founder, has sparked excitement by hinting at multiple partnerships that will be announced throughout Summer and Fall this year.
The Brave announcement is the first in a series that will come out throughout the Summer and Fall that I term the fixing broken windows deals that originated from Midnight negotiations.
It was long overdue, they originally could have been engaged in 2022. A certain entity…
— Charles Hoskinson (@IOHK_Charles) May 12, 2025
These deals were reportedly delayed from 2022 due to issues with partners. Hoskinson mentioned that “a certain entity dropped the ball” and that Cardano was “ignored.”
The upcoming partnerships are connected to negotiations surrounding the Midnight upgrade, which has become a focal point for the community.
Hoskinson has described the Brave Wallet integration as “the first of many upcoming deals,” generating optimism among investors and the community.
These developments are helping to counterbalance the short-term price volatility that ADA is experiencing.
