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.

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?

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…

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