Cardano’s Bullish Structure Points to Breakout: Is $2 the Next Stop?

Cardano seems riding on significant momentum in the crypto market as analysts eye ADA on the brink of a major breakout, with the price hovering around and up over 22% in the past week.

Dan Gambardello, a well-followed market analyst, highlights a clear bullish breakout pattern forming on the ADA chart. The price is reclaiming key moving averages and pushing beyond major trendlines.

According to Gambardello, this current setup mirrors previous bullish phases, where ADA made strong impulsive moves after consolidating.

Support around the $0.62 level remains critical, while resistance clusters around $1.15 to $1.30. A possible pullback in the short term may occur, but it could serve as a healthy retest before surging further. If momentum persists, the next major target zone lies between $1.60 and $2.00, with $2 acting as a significant psychological barrier.

CryptoJobs3 presents a weekly technical perspective, focusing on ADA’s attempt to a long-standing descending trendline. The key support range between $0.82 and $0.77 must hold to validate a bullish continuation. A successful close above this level could open the path to $1.0159, $1.1255, and eventually $1.20.

Interestingly, the volume profile shows historical buying activity between $0.30 and $0.40, indicating strong long-term accumulation. This suggests investors have been positioning themselves for a larger move, and ADA might now be ready to deliver.

Bitcoinsensus adds to the optimism, noting ADA’s consistent performance within a clean ascending channel since early 2023. Every time ADA touched the bottom of the channel, it rebounded sharply gaining 200% and 300% in past instances.

Now, ADA is showing the same pattern again, and if history repeats, the next target could be $2.40. The structure of the chart reflects more than just speculation; it highlights a strategic and repetitive price movement that could unfold again.