- Cardano trades at $0.5782 with $566.7M volume, maintaining strong support above the $0.55 level.
- Analysts eye breakout above $0.67, targeting $0.83 to $0.91 per Fibonacci extensions.
- Historical surge in 2020 saw 2,300% gain; current bullish sentiment nears an impressive 94%.
Cardano (ADA) is currently trading at $0.5782, reflecting a 2.06% daily decline. The token’s market cap stands at $20.46 billion, as investors digest market-wide volatility that’s impacting top altcoins. Despite the minor dip, ADA saw a notable 24-hour trading volume of $566.7 million, indicating active participation from traders.
Cardano has successfully reached its initial target of $0.61, as the analyst highlighted on X. Following a brief correction, the token remains resilient above the $0.55 support zone. This stable support reinforces bullish momentum, setting the stage for a potential climb toward the next target at $0.57.
Also Read: Cardano Price Analysis: Will ADA Rebound Toward $1.00 Soon?
Momentum Builds as Chart Patterns Strengthen
Technical indicators continue to favor bulls, with consistent buying volume suggesting accumulation. Momentum above $0.57 could accelerate a rally toward new resistance levels. Notably, a daily close above $0.61 would open the path toward higher zones, especially if it aligns with broader market strength and increased altcoin participation.
Prominent analyst Ali Martinez points to a long-running descending channel pattern that Cardano has followed for most of 2025. ADA’s recent tightening movement within this structure indicates building pressure. A confirmed daily close above $0.67 could trigger a breakout toward $0.83, and potentially even $0.91, following Fibonacci extension targets.
Bullish Sentiment Echoes ADA’s 2020 Rally Setup
The weakened dips of Cardano’s price reflect a decrease in the intensity of selling interest. There is a real breakout at the level of 0.67 dollars, which means the short-term structure of ADA can break. In this case, expectations for the upward trend would be restarted and a notable shift like that witnessed during the great bull run in 2020 could be ignited.
Back in 2020, the price of ADA hit 2.5 dollars from 0.10 dollars in just 180 days, while the price jump was 2300%. However, we have now reached a very high level of optimism, about 94%, headed by one of the well-known analysts, Goofycrisp, who suspects Cardano to do a similar move in the opposite direction.
New analysis by XForceGlobal places ADA within a completed ABC corrective wave, supported by months of holding the $0.45–$0.50 demand zone. This base now appears ready to fuel a fresh motive wave. Two bullish paths emerge, a steady climb or a sharp breakout, with long-term targets reaching $1.35, $2.00, and $3.20.
Also Read: Cardano (ADA) at Make-or-Break Level: ADA Targets $1.20 If Resistance Breaks