TLDR
- A Falling Wedge breakout on Cardano’s monthly chart suggests a possible 300% price increase within three months
- ADA formed a higher low at the $0.57-$0.60 support zone on April 7, 2025, potentially marking a bottom
- Cardano founder Charles Hoskinson projects Bitcoin could reach $250,000 within a year, boosting altcoin prospects
- ADA recently gained 4% to test the $0.70 resistance level before pulling back
- Bull Bear Power indicator has turned positive for the first time since March, suggesting growing bullish momentum
Cardano’s price action has caught the attention of crypto analysts who see signs of a major breakout on the horizon. Trading at approximately $0.69, ADA appears poised for a substantial upward move according to several technical indicators and expert predictions.
The crypto has been forming a Falling Wedge pattern since January 2025, characterized by converging trendlines with lower highs and lower lows. This formation is typically seen as a bullish reversal signal.
According to TradingView analyst Master Ananda, Cardano has now broken out of this pattern to the upside. This technical development could mark the end of ADA’s extended correction phase.
The analyst notes that Cardano established a higher low on April 7, 2025, around the critical $0.57-$0.60 support range. This price action, combined with a long lower wick in early February showing strong buying interest, suggests ADA may have formed a bottom.
If the current technical setup plays out as expected, Master Ananda forecasts a dramatic 300% price increase that could take ADA to $2.65. This target corresponds with the 2.618 Fibonacci Extension level.
The Road to $2.65
The path upward for Cardano involves several key price targets based on Fibonacci Extension levels. The first major hurdle is at the 0.382 Fibonacci level, which corresponds to $0.81.
From there, the analysis projects ADA will need to overcome the 0.5 Fibonacci level at $0.91, followed by the psychologically important $1.01 mark at the 0.618 level.
Further resistance is expected at $1.14 (the 0.786 Fibonacci level), with an intermediate target of $1.30 before challenging the 1.618 Fibonacci extension at $1.83.
The ultimate target of $2.65 represents more than a 300% increase from current price levels. While ambitious, the analyst believes this goal is achievable based on current chart patterns and market dynamics.
Master Ananda emphasizes that this bullish phase could extend well into Q3 2025. Though short-term price fluctuations are inevitable, the underlying structure suggests Cardano is entering a longer-term growth trajectory.
Hoskinson’s Bitcoin Forecast Boosts Outlook
Adding weight to the bullish case for Cardano is a recent statement from its founder, Charles Hoskinson. In an interview with CNBC, Hoskinson predicted that Bitcoin could reach $250,000 by the end of 2025.
Hoskinson cited several factors driving this optimistic outlook, including forthcoming U.S. cryptocurrency legislation and expected Federal Reserve interest rate cuts. He also pointed to the likely resolution of current trade tensions and tariffs as a factor that would improve investor sentiment.
“The markets will stabilize, the Fed will cut rates, and a wall of capital will pour into crypto. That’s what people are preparing for,” Hoskinson told CNBC in April 2025.
The Cardano founder also mentioned that institutional interest from major technology companies could spark a speculative boom between August and September. He expects this influx of capital to benefit altcoins like ADA.
Based on historical correlations, if Bitcoin were to reach Hoskinson’s projected $250,000 price target, Cardano could potentially exceed $2 during the same market cycle.
Recent Price Action
Cardano rose approximately 4% on Thursday, touching an intraday high near $0.70 before encountering resistance and pulling back slightly. This upward movement coincided with Hoskinson’s bullish comments about the broader crypto market.
ADA is currently trading near its 50-day simple moving average (SMA) at around $0.68. A sustained close above this level could pave the way for a push toward the 100-day SMA at roughly $0.77, with $0.75 serving as an immediate upside target.
The technical picture has improved with the Bull Bear Power indicator turning positive at 0.0900 for the first time since early March, suggesting a bullish divergence is forming. Meanwhile, the 200-day SMA at $0.76 remains a key long-term resistance level to watch.
Price action is currently compressing between major moving averages, which often precedes a period of increased volatility. Whether this volatility will favor bulls or bears depends largely on whether ADA can successfully convert the $0.70 level from resistance to support.
If Cardano fails to establish $0.70 as support, a retest of the $0.66 level becomes likely. Such a move could undermine the current rally and delay the bullish continuation that many analysts are forecasting.
Market participants will be watching closely to see if ADA can build momentum toward the higher price targets projected by technical analysts in the coming weeks and months.
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