Cardano Audit Hype Meets Bullish Charts: ADA’s Perfect Storm?
The Cardano price continues to trend upward, firmly supported by a structure that remains above both its 9-day and 20-day exponential moving averages.
The gap between these two indicators has been widening—a classic sign that bullish momentum is strengthening. This alignment suggests that traders are increasingly favoring upward exposure in ADA, with the trend unlikely to reverse unless significant selling pressure emerges.
MACD and RSI Suggest Sustained Buying Interest
The MACD remains in bullish territory, continuing to build separation between the signal line and the MACD line.
Although the histogram has shown signs of tapering slightly, it still reflects dominant buying pressure.
Daily chart for ADA/USD (Source: GeckoTerminal)
The RSI, while deep into overbought territory, has remained elevated—often a sign of trend strength rather than imminent reversal in such environments. As long as the RSI doesn’t diverge downward, ADA appears poised to continue its ascent.
Cardano Order Book Paints a Picture of Strong Support
Looking beneath the surface, the Cardano order book offers meaningful insight. A significant bid wall at $0.8083 with nearly 889,000 ADA units indicates strong support.
A second wall at $0.8000 reinforces the bullish base, together creating a cushion for ADA’s price. If these levels are defended, buyers may view it as a sign of market confidence and momentum continuity.
However, if both walls collapse, the Cardano price could fall toward $0.7519—a level with less protection and greater downside risk. This would represent an 11% drop from current levels, potentially opening the door to a larger correction.
Large Ask Walls Just Ahead: Is a Breakout Near?
ADA faces considerable selling resistance at $0.89 and $0.90. The $0.90 ask wall is particularly heavy, with over 1.44 million ADA units waiting to be sold.
If bulls can clear this hurdle, Cardano price action could accelerate rapidly toward the next resistance levels at $1.0658 and $1.0934—gains of over 6% and 9% respectively from current levels.
Once above $0.93, the technical outlook would shift decisively bullish in the short term, particularly if accompanied by volume spikes and positive sentiment from the broader community.
Hoskinson Fuels Optimism With Audit Report Update
Adding to ADA’s momentum is the latest update from Cardano founder Charles Hoskinson.
In a tweet, he revealed that the first draft of the long-awaited audit report has been received and is progressing quickly. He emphasized that he requested more detail in some areas but confirmed that the report is still on schedule for a mid-August release.
“I believe we are on schedule for a mid-August release, assuming the work continues at this pace and there are no delays,†Hoskinson said.
He also committed to reading the entire report via livestream once finalized and mentioned that a dedicated website would host the document along with other historical artifacts.
His transparency and steady communication continue to build confidence in the Cardano community.
Trading Strategy: Levels to Watch
For bullish traders, a breakout above $0.90 with solid volume may present an attractive entry, targeting resistance zones at $1.06 and beyond. Momentum traders may prefer a clean breach of $0.93 as confirmation before entering.
Cautious traders could wait for a retest of the support zone near $0.8083 or $0.8000 for potential bounce setups. On the bearish side, short entries might only be justified if ADA breaks below $0.8000 and fails to recover, with downside targets extending toward $0.7519 and $0.7425.
Conclusion
Cardano is in a strong technical position, supported by bullish indicators, firm bid walls, and growing optimism around Hoskinson’s upcoming audit report release. As both the technical and fundamental narrative align, ADA could be poised for a major move—if bulls can clear the remaining resistance.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
