TLDR
- ADA is forming a Falling Wedge pattern that historically led to gains of nearly 300%
- Cardano currently trades at $0.6998 with strong support at $0.69
- Analysts project breakout targets between $2.70 and $2.91 (261-300% potential gain)
- Key resistance level at $0.72 must break convincingly for rally to materialize
- Recent price action shows recovery from $0.650 zone with bulls attempting to push above $0.70
Cardano’s price has entered what analysts believe could be a crucial phase, with technical patterns suggesting a potential breakout that might mirror previous rallies of up to 300%. Currently trading at $0.6998, ADA has shown resilience at its support level while bulls continue pushing for a decisive move higher.
Amid growing market attention, Cardano maintains a crypto market capitalization of $24.7 billion and a 24-hour trading volume of $545.22 million. These figures highlight the sustained interest in the eighth-largest cryptocurrency by market cap.
Trader and analyst Javon Marks has identified that ADA is once again forming a classic Falling Wedge pattern on the charts. This pattern has historically preceded major price rallies for the cryptocurrency.
$ADA (Cardano) is pushing majorly towards another BREAKOUT and the last resulted in a nearly +300% gain!
With targets over 261% away between $2.70 and $2.91, a positive breakout here could be massive and lead into a run to the meeting of those levels… https://t.co/i1AhnN5iqg pic.twitter.com/SWMljMMwZH
— JAVON⚡️MARKS (@JavonTM1) April 24, 2025
According to Marks, between 2023 and 2025, Cardano followed similar patterns multiple times, with each breakout resulting in explosive moves upward of nearly 300%. The current formation appears to be setting up for a comparable outcome.
Technical Indicators Point to Bullish Reversal
After months of consolidation, volume indicators now show growing accumulation near the critical $0.69 support zone. This accumulation pattern often precedes major moves in the crypto market.
The hourly MACD (Moving Average Convergence Divergence) is gaining momentum in the bullish zone, while the RSI (Relative Strength Index) has moved above the 50 level. Both technical indicators suggest increasing buying pressure.
On the daily chart, respected analyst Rose Premium Signals notes that ADA has recently broken out of a Descending Wedge pattern. This technical formation typically signals the end of a downtrend and the beginning of an upward move.
The short-term price targets from Rose Premium Signals include $1.2797 initially, with a possible extension to $1.4853 if the bullish momentum continues to build.
For traders tracking Cardano’s price action, the $0.69-$0.72 price zone represents the critical battleground that will likely determine the next major move. Maintaining support at $0.69 while breaking through resistance at $0.72 could trigger the anticipated rally.
Price History and Support Levels
Cardano recently experienced a decline from the $0.7350 level, dropping below both the $0.720 and $0.70 support levels. The price found a temporary bottom at $0.6826 before starting its current recovery attempt.
The price has since moved back above $0.70 and cleared the 50% Fibonacci retracement level of the recent decline from the $0.7338 swing high to the $0.6826 low.
Multiple support levels have been established during this consolidation phase. Beyond the immediate $0.69 zone, additional support can be found at $0.680, with major support at $0.630 and $0.6175.
On the resistance side, Cardano faces hurdles at $0.7150, which coincides with the 61.8% Fibonacci retracement level. Additional resistance appears at $0.7180, where a connecting bearish trend line has formed on the hourly chart.
Breaking above these levels could open the path toward $0.7250, followed by $0.750. A convincing move above $0.750 might accelerate the rally toward $0.780 and potentially $0.80 in the near term.
Targets for the Potential Breakout
If Cardano successfully breaks out from the current Falling Wedge pattern, analysts suggest the price could mirror previous rallies. Javon Marks projects targets between $2.70 and $2.91, representing potential gains of 261% to 300% from current levels.
These targets align with historical outcomes seen in previous breakout scenarios. The strong trading volumes that accompanied past breakouts serve as further evidence that ADA could be preparing for another major move.
However, failure to hold the support at $0.69 could lead to another round of consolidation or even deeper corrections. In such a scenario, the price might test lower support levels at $0.630 or even $0.6175.
As the situation develops, all eyes remain on whether this breakout attempt will indeed mirror the historic gains seen in previous cycles. The coming days will be crucial in determining whether Cardano can sustain momentum and push through key resistance levels.
For now, the Cardano price rally sits at a critical juncture, with technical indicators suggesting growing bullish momentum while resistance levels remain intact. The outcome of this struggle between buyers and sellers will likely shape ADA’s price trajectory for the coming weeks.
