Cardano ($ADA) is currently trading at $0.426, testing important weekly support. Analysts are seeing signs of a potential breakout. After a period of downtrend, key support levels are being tested, sparking optimism.
According to Captain Faibik, the price could break out from this downtrend, signaling a price increase. Faibik’s analysis suggests a 56.3% potential gain if the trendline is successfully broken.
Cardano Testing a Crucial Weekly Support Zone
CryptoPulse recently emphasized that Cardano is testing an important support zone. This support level has previously been crucial in triggering reversals.
If $ADA maintains its position above this zone, it could potentially rise to the $0.50–$0.52 range. Further price targets are set at $0.66 if this upward momentum continues.
However, if Cardano’s price falls below $0.36, this bullish scenario would no longer be valid, indicating that the trend could shift in the opposite direction.
Long-Term Outlook for Cardano With Falling Wedge Pattern
Altcoin Pioneers have observed a multi-year falling wedge pattern on Cardano’s 3-week chart. This pattern began in 2021 and has seen the price bounce off the lower support trendline.
The analysts believe that the current price movement suggests a bullish macro structure, with higher lows and decreasing downside momentum. If Cardano continues its upward trajectory, the target price range is expected to surpass $1.20–$1.50. In the short term, the price could reach $2.50–$3, with a long-term target of $5–$7 by mid-2026.