Cardano [ADA] has rallied 13.22% in the past 24 hours of trading, and its daily trading volume has exploded by nearly 60%. This price move came alongside the expected van Rossem hard fork.
This is an intra-era upgrade and not a major hard fork. It focuses on performance and governance, and introduces new Plutus built-in functions.
Combined with the broader market rebound and Bitcoin climbing back above $62,000, the upgrade gave Cardano another short-term catalyst.
What to expect next for Cardano
Source: ADA/USDT on TradingView
In April and May, the ADA bulls stubbornly clung to the $0.235 support level. Though the altcoin had been in a downtrend from September 2025, the price drop below $0.235 was a severe blow to bullish hopes.
The $0.32 support was another level of importance in the higher timeframe, which was broken in January 2026. This shifted the swing structure bearishly, and the structure remained in control of the sellers since then.
At the time of writing, too, the Cardano price action was bearish on the 1-day timeframe. The move from $0.19 to $0.138 in June was used to plot a set of Fibonacci retracement levels.
The 78.6% retracement level at $0.1789 has been breached to the upside, but the swing structure remained bearish. A daily session close above $0.19 is needed to flip the structure bullishly.
The technical indicators did not offer much hope to the bulls.
The MFI recovered above 50 to indicate upward momentum and increased buying pressure. Yet, the CMF was only at +0.03, despite the swift uptick in trading volume in recent days.
The CMF has been below 0 for the most part since March, signaling a lack of sustained buying pressure.
Traders’ call to action- Sell
Source: ADA/USDT on TradingView
The current Cardano bounce has reached overextended territory, according to the MFI indicator, whose readings were above the 80 threshold.
Swing traders have a good risk-to-reward opportunity to go short, with invalidation of the bearish idea being an H4 trading session close above $0.19. To the south, the $0.138 and $0.126 levels would be the next price targets.
Final Summary
- The van Rossem hard fork, an intra-era upgrade, has helped bolster the short-term Cardano market sentiment.
- The price structure was bearish across timeframes, and a rejection from the $0.178-$0.190 area appeared likely.
