- ADA forms triangle with $0.73 breakout potential
- Bullish MACD crossover confirms trend momentum
- $0.6422 entry zone draws trader interest again
Cardano (ADA) is showing renewed strength after weeks of market uncertainty. The asset has rebounded from a recent low of $0.5162 and is currently trading near $0.6446. Technical patterns indicate a potential breakout, and traders are watching for an entry near $0.6422 with a target of $0.73.
Ascending Triangle Formation Supports Cardano Bullish Setup
The ascending triangle pattern seen on ADA’s chart reflects price compression between steady support and a horizontal resistance. This structure often precedes breakouts when accompanied by rising momentum and volume. According to GemXBT, pressure is building within the narrowing range, making a breakout likely if buyers continue stepping in.
Momentum indicators such as the MACD recently showed a bullish crossover, which often signals an increase in buying strength. Additionally, ADA remains above key moving averages, a condition often viewed as confirmation of trend continuation. However, market participants are advised to watch for volume support to confirm any breakout above the $0.66 resistance level.
A pullback remains a possibility before a breakout occurs. According to an observation by TraderTardigrade, a retracement to $0.6422 could offer a favorable long entry. This area coincides with the previous swing low and near-term support. Traders may look for confirmation signals around this level before opening positions.
Breakout Target at $0.73 Matches Previous Price Structure
A breakout above the $0.66 level could lead ADA toward the $0.73 target. This level aligns with a prior consolidation zone and serves as a logical resistance point in the current trend. ADA would need continued buying interest and trading volume to reach and hold that level.
CoinMarketCap reports ADA’s trading volume at $706.94 million, while market cap stands at $22.74 billion. Sustained or growing volume will be key to supporting further upward movement.
If volume drops, the breakout attempt could weaken and lead to a reversal.The trading setup suggests a long entry at $0.6422 with a target at $0.73. This range offers a clear structure for short-term positioning as technical conditions evolve.
