Cardano Sees Bullish Momentum Reignite Following Exchange Listings

Cardano (ADA), currently ranked among the top 10 cryptocurrencies by market capitalization, has staged a notable rebound following a period of prolonged weakness. This resurgence comes on the back of two major exchange developments: its listing on Huobi, one of Asia’s largest trading platforms, and the addition of new trading pairs on Binance, specifically ADA/BNB and ADA/USDT.

“This marks an important step for ADA’s liquidity and accessibility, especially in Asian markets,” Binance stated in a tweet announcing the listings on April 17, 2018 (source).

These exchange listings have injected fresh momentum into Cardano’s market, sparking optimism among traders who now speculate whether ADA could become a serious contender to Ethereum as a smart contract platform. The underlying fundamentals of the Cardano project — particularly its focus on peer-reviewed academic research and scalability — continue to attract attention from long-term investors and developers alike.

But is the current bounce sustainable? Let’s take a closer look at both the weekly and daily technical charts to better understand ADA’s next potential moves.

Weekly Chart: A Steep Fall and a Hesitant Recovery

The ADA/BTC pair has experienced a wild ride since its breakout year. After launching near 0.00000254 BTC in early November 2017, ADA surged to a peak of 0.00009180 BTC by early January 2018 — an astonishing return of over 3,500% in just two months.

As is typical in crypto markets, such parabolic moves eventually meet steep corrections. By March 18, 2018, the pair had collapsed to a low of 0.00001673 BTC, representing an 81% decline from its highs.

“The speed and severity of the correction have shaken out speculative hands,” said crypto analyst Josh Rager, noting that such deep pullbacks are common following exponential growth.

Since mid-March, ADA has entered a gradual five-week recovery phase, approaching the 23.6% Fibonacci retracement level of the previous downtrend, which lies near 0.000027 BTC. This is a typical area where a market may stall after a deep correction, as both short-term traders and long-term bag holders reassess their positions.

Importantly, the current bounce has not yet confirmed a trend reversal. A ‘V’ shaped recovery is considered unlikely, given the depth of the prior correction and the psychological weight of previous highs. Many traders who bought near the top may look to exit positions if ADA continues rising, creating resistance zones on the way up.

Key Levels to Watch

If ADA can push higher, traders should monitor the following resistance points:

• 38.2% Fibonacci retracement: ~0.00004541 BTC
• 50% Fibonacci retracement: ~0.00005427 BTC

These levels are likely to serve as significant hurdles, especially as the 50-day and 200-day moving averages begin converging around those same price zones — a technical confluence that often signals breakout or rejection.

However, it’s worth noting that the strength of the current recovery may be tested soon. Historical price action suggests that Cardano tends to consolidate before launching into sustained uptrends, and this may be the case again if it fails to break resistance decisively in the near term.

“The longer ADA spends building a base, the stronger the eventual breakout will be,” noted Mati Greenspan, founder of Quantum Economics. “A period of healthy consolidation is nothing to fear.”

Daily Chart: Consolidation Near Resistance

Looking at the daily chart, ADA has been range-bound near 0.000027 BTC, hovering at the 23.6% retracement level for the past seven sessions. This behavior reflects a tight consolidation phase, often preceding a significant move in either direction.

What’s particularly encouraging is the bullish crossover of the moving averages. The 20-day exponential moving average (EMA) has begun sloping upward and recently crossed above the 50-day simple moving average (SMA), signaling short-term bullish momentum.

“The moving average crossover combined with tight price consolidation usually precedes breakouts,” explained analyst Rakesh Upadhyay, author of the original price analysis. “If bulls push through the overhead resistance, 0.000045 BTC is within reach.”

If ADA breaks above the consolidation range and closes above 0.000035 BTC (on a UTC basis), it would confirm the breakout and set a path toward 0.000045–0.000054 BTC as the next likely upside targets.

However, if momentum fades, support levels to watch include the 20-day EMA and, below that, the 50-day SMA. A break beneath both could indicate that a deeper retracement is underway.

How Should Traders Approach ADA Right Now?

For long-term investors, the current zone may present a buying opportunity — particularly on dips near the 50-day SMA — with stops placed just below the March 18 lows of 0.00001673 BTC. If ADA breaks below that low, downside targets include 0.00000965 BTC and potentially 0.00000560 BTC, though such a drop would likely require negative catalysts.

For short-term traders, existing positions entered near the lows should be held with a tight stop at 0.000030 BTC. Fresh long entries can be considered only after a clean breakout above 0.000035 BTC, with initial targets at 0.000045 and a potential stretch target of 0.000054 BTC if volume supports the move.

Momentum Builds, But Confirmation Is Needed

Cardano’s recent recovery appears technically sound, driven by improved exchange access and growing investor optimism. However, the market remains hesitant, with resistance levels yet to be convincingly breached. Volume remains subdued, and the project must continue executing on its roadmap to sustain investor interest.

The ADA community is closely watching for updates from IOHK and Charles Hoskinson, whose leadership and academic rigor have defined Cardano’s development ethos. With Ethereum competitors heating up and interoperability becoming a hot theme in 2024–2025, Cardano’s next move will need to be both technical and narrative-driven.

For now, consolidation above key supports and a break above 0.000035 BTC are the signals to watch as ADA prepares for its next big move.