Cardano has broken free from its downward trend, and the price is starting to climb. Looking at the chart patterns, specifically a descending triangle formation that ADA’s price just broke through, things are looking up for the cryptocurrency.
Crypto analyst Ali thinks the price could reach $0.83 soon based on current market behavior. His analysis shows how ADA’s price has finally pushed past its previous downward pattern, with technical indicators backing up this positive move.
Right now, Cardano is trading around $0.79, which is significant because it’s pushed through what was previously a tough resistance point. The analysis includes Fibonacci levels that suggest where the price might go next. If buyers maintain control, ADA could reach the projected $0.83 mark in the coming sessions.
What you'll learn 👉
Cardano Chart Analysis: Breakout from Descending Triangle
The chart reveals Cardano’s price moving in a descending triangle pattern, which typically signals more downward movement ahead. But instead of falling further, ADA’s price pushed through the upper boundary, showing a clear upward breakout.
This tells us sellers are losing steam and buyers are stepping in. A strong bullish candle confirmed the breakout, pushing the price past resistance. Historically, breakouts from such formations lead to upward momentum, provided support levels hold firm.
Looking at the charts, Cardano broke through an important price level at $0.78 (the 0.618 Fibonacci mark), and that level should now help support the price. The next key levels to watch are $0.81 and $0.82, based on Fibonacci measurements.
Further extensions suggest a possible upside toward $0.8441 and $0.8565 if ADA’s price maintains its momentum. Market watchers want to see if this upward move has real strength behind it. If the momentum continues from the $0.79 breakout point, we could see prices climb about 5% to reach $0.83.
Read Also: Here’s Why ONDO Price Could Explode to $5
ADA Key Support and Resistance Levels to Watch
If momentum weakens, ADA may retest its previous breakout level around $0.7844. A move below this level could signal a pullback toward $0.7668 or even $0.7489, which marks the base of the descending triangle. On the upside, sustaining above $0.80 could strengthen the case for a move toward $0.83.
Traders are monitoring whether this breakout can hold, as failure to maintain support may invalidate the bullish setup. If ADA’s price remains above key levels, it could continue trending higher in the short term.
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