The price of Cardano (ADA) has been steadily increasing, gaining around 40% over the last five weeks. This upward momentum might just be the beginning.
Based on a new chart analysis shared by Rose Premium Signals on X, ADA could be preparing for a significant rally. Their technical update highlights a breakout from a falling wedge pattern, which is often seen as a bullish reversal signal.
What you'll learn 👉
ADA Breaks Out and Holds Key Level
In the chart shared by Rose Premium Signals, ADA recently broke out of a falling wedge structure that had kept it in a downtrend for several months. The breakout was clean and followed by a retest of the previous resistance zone, which now appears to be acting as support. This zone, marked clearly on the chart, lies just below the $0.77 area. ADA is currently consolidating around this level, which could serve as a strong launchpad for the next leg up.
The falling wedge pattern itself has been forming since early March, with multiple touches confirming the pattern. Once ADA broke above the upper boundary of the wedge in May, the sentiment began shifting more bullish. This kind of setup suggests that the ADA price may be ready for a much larger move to the upside.
Price Targets for ADA: $0.95, $1.02, and $1.13
According to the chart, there are three clear short to mid-term price targets marked: $0.9508, $1.0295, and $1.1316. These levels represent possible resistance points where price might stall or consolidate before continuing higher. The final target of $1.13 would represent a significant jump from current levels, indicating the potential for ADA to rally further if bullish momentum remains strong.
This forecast aligns with what Rose Premium Signals shared on their profile, noting bullish potential above the falling wedge breakout. Their own price targets include $0.84, $1.00, and $1.18, which are very close to those shown on the chart.
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Cardano is showing signs of being one of the altcoins ready to outperform. If ADA can maintain support above the breakout level and attract enough buying pressure, the next few weeks could bring sharp upside movement. The ADA price has clearly flipped a critical structure, and if momentum holds, Cardano might be heading toward its most bullish phase in months.
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