🔥Cardano Price Analysis: ADA Eyes $0.68 as Bitcoin’s Rally Signals Broader Market Strength

📈 Cardano Price Up 3.5%
The crypto market is bullish, with Bitcoin at $70,000 and Ethereum nearing $4,000. Cardano (ADA) is up 3.5%, showing a reversal from recent corrections and breaking overhead resistance.

🔄 Sideways Trading
Over the past six weeks, ADA has traded sideways within two converging trendlines, indicating strong resistance and support, gradually narrowing its price range.

🚀 Independent Market Performance
Santiment highlighted Bitcoin's rise above $70,000, coinciding with a U.S. equity market pause for Memorial Day. This shows crypto's growing ability to perform independently of traditional markets.

📊 Potential Breakout
If bullish sentiment continues, ADA could break the overhead trendline, targeting $0.624 and then $0.68. However, persistent supply pressure might extend its consolidation for another week or two.

📉 Technical Indicators

RSI: The RSI at 50% indicates neutral market sentiment.EMA: The 100-and-200-day EMAs around $0.5-$0.52 mark a high supply zone for traders.