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Cardano Breaks Out of Long-Term Bearish Patterns, Eyes 50% to 100% Rally

Analysts project Cardano could rally as much as 100% toward $1.35 following its breakout from long-term bearish chart formations

Overview

  • ADA has climbed to around $0.80, marking a roughly 30% increase in the past month and 11% in the last week even as daily trading volume dropped about 31%.
  • The token cleared a descending triangle at $0.64–$0.65 and confirmed a falling wedge breakout, signaling renewed accumulation pressure on weekly charts.
  • Derivatives data shows over 75% of major participants on Hyperliquid hold long positions in ADA, reflecting strong conviction among whales.
  • Key supply walls sit at $0.85 and $0.93, which analysts say must be absorbed to open a path above the $1.00 psychological level.
  • The SEC’s upcoming decision on Grayscale’s spot-ADA ETF is the next significant catalyst that could add fresh momentum.