Cardano Price Prediction for May 23: ADA Faces Resistance Near $0.80 After Sharp Rebound

Cardano price today trades near $0.788, facing rejection near the $0.80 Fibonacci level. Short-term indicators suggest a cooling of momentum, with RSI nearing overbought conditions. A daily close above $0.8005 could confirm breakout continuation toward $0.84. After a strong recovery wave, the Cardano price today is trading near $0.788, consolidating just below the psychological $0.80 level. This recent Cardano price spike follows a bounce from sub-$0.72 zones, driven by technical breakout patterns and renewed risk appetite across altcoins. However, ADA now sits at a crucial juncture, with short-term charts suggesting possible rejection pressure from an upper resistance cluster. ADAUSD price dynamics (Source: TradingView) The rally comes amid bullish cues from broader crypto majors and improving sentiment, but as key indicators enter overbought zones, traders are asking: Why Cardano price going up today, and can it hold above near-term supports? What’s Happening With Cardano’s Price? ADAUSD price dynamics (Source: TradingView) On the 4-hour chart, ADA has decisively broken past the 20, 50, and 100-EMA zones, reclaiming ground above $0.75 and $0.7… The post Cardano Price Prediction for May 23: ADA Faces Resistance Near $0.80 After Sharp Rebound appeared first on Coin Edition .

Source: Coin Edition