Key Insights:
- ADA broke out of a long-term descending trendline and retested $0.67 as a key resistance level.
- A daily close above $0.67 could initiate a rally toward the $0.83–$0.91 Fibonacci resistance range.
- Analysts expect a possible bullish continuation to $1.32 if ADA holds the breakout and demand zone.
Cardano price was approaching a crucial resistance area following a long-term downtrend. Analysts have noted that breaking above $0.67 may trigger a possible continuation phase higher to $0.91.
Cardano Price Broke Out of Long-Term Descending Trendline
According to analyst Ali Martinez, the ADA price has recently surged above a downward trendline. This trendline has contained its action since December 2024. It linked a series of lower and lower highs, marking a lengthy bearishness.
Cardano price breakout was confirmed as it moved above the upper trendline of a downward channel. This pattern appeared consistently on the daily and 3-day charts, signaling bullish momentum.
This was supported by sustained purchases around the demand zone of $0.48 and $0.53. Additionally, technical signals indicated that an accumulation trend at the lower end of the trend preceded the breakout.
This formation reflected past price action corrections in ADA. These corrections caused rallies when a falling wedge or parallel channel was broken, and led to a rally.
Cardano Price $0.67 Resistance Holds the Key to $0.91
Moreover, ADA price was trading at nearly $0.60. In recent attempts, it tried to reclaim the $0.67 level, which is being closely monitored.
Analyst Ali notes that if the daily candle closes above $0.67, it could trigger a bullish move. The next potential price range lies between $0.83 and $0.91. This aligns with the 0.5 and 0.382 Fibonacci retracement levels.
These levels were calculated from the last significant swing high and low. Furthermore, these levels were resistance in early 2024 and could become targets in the event of further upward pressure. Another essential metric observed was the volume.
A breakout with increasing volume might indicate good support in the market. Without confirmation, the rally may stall near the resistance level. It could also reverse course toward the midline of the falling wedge pattern.
Besides, the previous breakdown zone of March 2025 enters the $0.67 level, increasing its relevance. Any decisive action over this level may change the short to medium-term trend. It could further set up a new structure based on future higher lows and higher highs.
Analysts Eye $1.32 as Extended Target
The short-term resistance for Cardano price stands at $0.67 and $0.91. Analyst Luciano_BTC highlights a possible long-range target near $1.32.
This projection is based on ADA’s peak from November 2023. It also aligns with the upper boundary of a recovery channel shown in the recent ADAUSDT chart.
Moreover, the chart shows that the ADA price experienced a sharp rally. It observed the rally from the demand zone to above $1.20 during a late 2023 uptrend.
If ADA holds support above $0.91, the bullish trend may strengthen. This could pave the way for a move toward the $1.32 zone. This level is marked by previous distribution zones and Fibonacci confluence with the 0.236 retracement of the broader cycle.
Consequently, hitting $1.32 may rely on overall stability in the market and buyer interest there. Breakout patterns usually need retests of previous support and resistance areas, and ADA may well adhere to that template.
Intermediate resistance at $0.83-$0.91 is an area of consolidation in case selling pressure is kept at $0.67. Meanwhile, the recent analysis revealed that the Cardano price created a falling wedge.
This indicated a possible bullish reversal. ADA traded between $0.56 and $0.60, with its resistance zone at $0.60 and $0.62. The growing optimism around a 90% chance of ETF approval boosts sentiment.
If a confirmed breakout follows, it could propel the Cardano price toward the $1.30 target outlined by the wedge pattern.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
