- Cardano has broken out of a falling wedge, reclaiming the 200-day moving average, signaling renewed trend strength after extended consolidation.
- ADA transactions above $100,000 soared from 86 to over 1,000 weekly, showing increased interest from larger market participants and institutions.
- ADA gained 71% quarterly, outperforming major layer-1 tokens, while Grayscale’s ADA ETF filing fuels additional momentum toward the $1 mark.
Cardano (ADA) has shown renewed strength after breaking out of a prolonged downtrend, with traders watching the $0.95 level as a crucial turning point.
Breakout from Falling Wedge Pattern
The ADA/USDT daily chart on OKX illustrates a decisive breakout from a falling wedge formation. This pattern, often seen as bullish, had contained price action for months. ADA has now pushed beyond the upper trendline, suggesting early signs of a trend reversal.
Trader Marcus Corvinus noted that ADA successfully broke out of the descending channel, adding that momentum appears to be returning. The chart shows the $0.85–$0.95 zone acting as a multi-touch resistance area. Current price action indicates ADA is pressing against this level once again, showing persistence in testing its strength.
If the zone is flipped into support, technical analysts believe ADA could establish the foundation for a larger rally. Such a move would create conditions for sustained upward momentum.
Technical Indicators Turning Favorable
Another encouraging development is ADA reclaiming the 200-day moving average. This long-term indicator had previously acted as overhead resistance, keeping the market in a broader downtrend. Its recovery may signal a shift in macro market structure.
The formation of higher lows further strengthens the bullish outlook. Demand appears to be entering at higher levels, showing that buyers are becoming more aggressive. The presence of this pattern suggests that the accumulation phase might be ending.
Corvinus projected a potential bullish path with ADA moving beyond the $0.95 barrier. If successful, targets around $1.25 and later $1.75–$2.00 could come into play in the months ahead.
On-Chain Activity and Market Sentiment
Market activity has also supported this technical picture. According to Mark.eth, ADA transactions exceeding $100,000 surged from 86 to over 1,000 in a single week. Such activity reflects growing interest among larger market participants.
ADA has gained nearly 30% while breaking above the $0.90 resistance zone, outperforming Bitcoin, Solana, and other major layer-1 networks. On a quarterly basis, ADA has registered a 71% gain, placing it just behind Ethereum in performance.
Sentiment has also been supported by Grayscale’s ADA ETF filing, which traders see as an additional source of momentum. With the price at $0.9497 as of writing, ADA remains just below the key $0.95 level. Traders continue to monitor volume and support confirmation for signs of sustained strength.
