Recent analysis indicates that Cardano (ADA) may be on the verge of a breakout, potentially leading to a significant price increase in the coming weeks.
How Past Patterns May Influence Cardano Next Move
Analyst World Of Charts on platform X (formerly Twitter) highlighted a developing pattern on the ADA 2-day chart that resembles previous setups leading to major price rallies.
The pattern noted by the analyst includes three large falling wedge formations, each followed by a breakout. If the current pattern follows historical behavior, ADA price could climb toward the $1.50 range.
Where ADA Price Support and Resistance Levels Stand
Key support remains between $0.63 and $0.65, which acted as the base of the most recent bounce. If the breakout fails, traders may look to $0.50 or even $0.37 as the next areas of interest.
A confirmed close above the wedge resistance could open a path toward higher price levels.
What This Means for ADA Holders
While the chart and commentary from World Of Charts don’t guarantee cardano price action, they do offer a clear technical roadmap for traders. The repeating wedge formations and historical breakouts create a framework that traders are watching closely.
If ADA price continues to respect the pattern, the next breakout could bring a substantial move. Until then, all eyes remain on resistance and whether volume steps in to confirm a breakout is underway.
The analysis of the current Cardano chart shows that the ADA price is in an interesting position that could lead to substantial movement depending on future market conditions.
