- ADA has repeated descending wedge breakouts since 2023, with the latest move pushing price above $1.01790.
- Resistance is near $2.2715, while supports at $0.85770 and $0.7800 could be key breakout bases.
- Fibonacci levels show targets at $1.28 and $1.62 if bullish momentum continues, says analyst Ali.
Cardano’s price action is showing renewed strength after a breakout above recent consolidation levels. At the time of writing, ADA was trading at $1.01, moving past $1 for the first time in weeks.
According to analyst Javon Marks, momentum could push ADA toward $1.20 in the near term, before an extended rally toward $2.90, which roughly is 200% above current levels. The forecast builds on a repeating technical pattern observed since September 2023, where descending wedge formations preceded rallies.
Repeating Wedge Formations and Bullish Outlook
From September to early November 2023, Cardano’s price consolidated inside a descending wedge before breaking sharply upward. This pattern reappeared between March 2024 and November 2024, again producing a substantial breakout.
A third, smaller wedge formed in mid 2025, also leading to upward movement. Currently there are wedge formations and projected breakout surges. Consolidation or retracement phases that followed each rally are present in wedge formations.
Historical behavior suggests that these wedges often precede either continuation or reversal, with ADA’s latest move fitting the continuation case.
Key Resistance and Support Levels
ADA’s next major resistance is at $2.2715, aligning with long term Fibonacci and historical price targets. Support levels are at $0.85770 and $0.7800, marking previous breakout bases. Marks notes that holding above $0.85770 keeps the bullish setup intact.
However, a drop below could change momentum toward deeper retracements. The current breakout above $1 has drawn market interest, with short term projections aiming toward $1.30 if buying pressure sustains.
Fibonacci Levels and Breakout Potential
Analyst Ali adds that ADA recently rebounded from the 0.382 Fibonacci retracement level at $0.7539 and is now above the 0.618 level ($0.9243) and 0.786 level ($1.0685).
A technical and psychological barrier is near $1.10. Ali’s chart outlines two possible bullish scenarios: an extended rally toward $1.28 and $1.62 if momentum holds. However, a rejection at current levels could send ADA back toward $0.76 or $0.67, with the $0.54 channel base as a deeper support target.
