- Cardano nears key support with triple bottom and falling wedge, signaling potential breakout.
- RSI at 58 and MACD crossover suggest increasing bullish momentum for ADA price action.
- ADA ETF approval odds hit 79% as trading volume and on-chain activity show rising investor confidence.
Cardano (ADA) is approaching a crucial support level that has held firm on two previous occasions. This forms a possible triple bottom structure — a known bullish reversal pattern. The asset is also trading within a large falling wedge, a setup that often precedes price breakouts. ADA is currently priced at $0.5243.
ADA Price Tests Key Technical Structure
Cardano is nearing a key support zone that has held firm twice, according to analysis prepared by Crypto Billion. If ADA maintains this level and closes with a bullish weekly candle, the chart could confirm a triple bottom formation. This pattern often suggests a change in trend direction, which could lead to a breakout.
The asset is also trading inside a broad falling wedge pattern. Historically, such patterns lead to upward movement when a breakout occurs. ADA’s next targets, if the bullish pattern confirms, are $1.0057, $1.2114, and $1.4329.
Despite recent price drops, technical indicators show a possible shift. Based on TradingView data, the RSI stands at 58 on the 4-hour chart, suggesting there is room for further upward movement. The MACD line also crossed above the signal line, showing increasing buying momentum.
Market Sentiment and ETF Optimism Boost Confidence
Cardano’s long-term outlook is gaining attention with the odds of a Cardano ETF approval by 2025 now at 79% on Polymarket. The SEC has shown positive signs during meetings with asset managers.
As institutional interest grows, trading volume has also seen a sharp increase. On June 22, 2025, ADA saw over $754 million in 24-hour trading volume. This marks a 65.51% increase, according to CoinMarketCap.
Meanwhile, Cardano’s on-chain activity remains strong. Data from IntoTheBlock shows a 5.7% rise in daily active addresses, reaching 42,000. With over 71% of ADA staked, investor confidence remains firm. If price holds and momentum continues, ADA could be preparing for a bullish breakout.
