Cardano's Price Soars 13% Ahead of van Rossem Update: Will This Surge Continue?
In the last 24 hours, Cardano [ADA] has experienced a remarkable increase of 13.22%, coinciding with a surge of nearly 60% in its daily trading volume. This uplift aligns with the anticipated van Rossem hard fork, which although significant, is classified as an intra-era upgrade. Its focus lies on enhancements in performance and governance, introducing new built-in functions for Plutus.
The broader cryptocurrency market has also seen a recovery, particularly with Bitcoin resuming its climb above $62,000, providing an additional short-term boost to Cardano.
What Lies Ahead for Cardano
Historically, in April and May, ADA bulls were firm on maintaining the support level at $0.235. However, the altcoin entered a downward trend since September 2025, and the breach of the $0.235 mark proved to be a significant setback for bullish sentiment.
Another critical support level was at $0.32, which was breached in January 2026, resulting in a bearish swing structure controlled by sellers.
As of now, Cardano's price action remains bearish on the 1-day timeframe. Recent movement from $0.19 to $0.138 in June has been analyzed using Fibonacci retracement levels. The 78.6% retracement at $0.1789 was surpassed upwards; however, the swing structure continues to show bearish tendencies. To shift the outlook to bullish, a daily close above $0.19 is essential.
Technical Indicators Insight
As for technical indicators, the outlook for bulls is tenuous. The Money Flow Index (MFI) shows a recovery above 50, signaling rising momentum and buying pressure. However, the Chaikin Money Flow (CMF) indicator remains at a mere +0.03, despite the recent uptick in trading volume.
For a significant period, the CMF has lingered below 0, indicating a lack of sustained buying momentum.
Traders' Perspectives
Current data suggests that the recent uptick in Cardano's pricing is heading into overbought conditions, per the MFI, which has surpassed the 80 threshold. Swing traders might find an appealing risk-to-reward ratio to go short, as long as a close above $0.19 on the H4 chart doesn’t invalidate such a bearish stance. Conversely, potential targets for downward movement could be the $0.138 and $0.126 levels.
Conclusion
The van Rossem hard fork has provided a short-term positive sentiment for Cardano in the market. Nonetheless, the overarching price structure has shown bearish characteristics across various timeframes, with a retraction from the $0.178-$0.190 range appearing highly probable.
