Cardano (ADA) Price Outlook: Prolonged $0.72 Consolidation Nears End

Key Takeaways

• Symmetrical triangle breakout nearing.
• Wave (ii) correction appears complete.
• Bullish targets up to $1.74.
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Cardano (ADA) is approaching a critical juncture after consolidation. The asset has spent two weeks coiling within a symmetrical triangle following a complex correction.

Now, price action and momentum indicators suggest a potential breakout may be on the horizon.

This analysis explores both the macro trend on the 4-hour chart and the developing breakout structure on the 1-hour chart to assess what lies ahead for ADA.

ADA Price Analysis

Cardano (ADA) remains poised within a maturing structure on the 4-hour chart after completing a five-wave impulsive cycle that peaked near $1.38.

Following that high, the price entered a multi-phase correction that developed into a complex W-X-Y-X-Z pattern.

The Z wave terminated near $0.57, printing a final low within a contracting triangle structure.

This corrective consolidation exhibited converging trendlines and suggested the end of a large-degree correction.

From an Elliott Wave standpoint, this triangle formation can be interpreted as the final wave of a larger correction, preparing ADA for a new impulsive sequence.

Momentum has slowly built as price tests the triangle’s upper boundary.

Simultaneously, the Relative Strength Index (RSI) remains slightly bullish, above 50, hinting at renewed buying pressure but not yet at overbought conditions.

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Structurally, the macro downtrend line from the $1.38 peak intersects with horizontal resistance at $0.9069, which coincides with the 0.236 Fibonacci retracement level.

A breakout from this triangle could confirm a bullish reversal, while failure may prolong the correction. Until then, ADA remains in a coil pattern, primed for a volatility expansion.

ADA Price Prediction

On the 1-hour chart, Cardano’s short-term structure signals the end of wave (ii) within a lower-degree five-wave impulse.

Wave (i) rallied sharply from $0.58 to $1.19 before wave (ii) retraced in an (a)-(b)-(c) corrective form, bottoming around $0.65.

Price has formed a narrowing range between ascending support and descending resistance—shaping a classic symmetrical triangle.

A breakout from this structure could propel ADA into wave (iii), with Fibonacci extensions suggesting the 1.618 level at $1.53 as the next target.

Should momentum sustain, wave (v) might extend to the 2.0 level at $1.7409.

Wave (iii) traditionally is the strongest leg in Elliott Wave theory, and given the basing formation and rising RSI, ADA could be on the verge of entering this explosive phase.

However, downside risk remains if the structure fails.

A breakdown beneath $0.6476 (0% Fibonacci level from wave (ii)) would invalidate the bullish outlook and open the door to deeper retracement, potentially re-entering the Z wave territory.

The current setup favors the bulls, contingent on a clean breakout above $0.7766 and $0.9069.

Wave (iv) pullbacks could revisit the $0.9854 or $0.92 regions (0.618 and 0.5 retracements from wave (iii)), providing potential reentry points before the final leg into wave (v) unfolds.

In all, ADA appears on the brink of resolving a pivotal structure.

Key Levels to Watch

Immediate Resistance: $0.7766 (0.236 Fibonacci level).
Key Resistance: $0.9069 (0.236 from macro retracement).
Short-Term Target for Wave (iii): $1.1942 (1.0 Fibonacci extension).
Major Target for Wave (v): $1.7409 (2.0 Fibonacci extension).
Immediate Support: $0.6476 (wave (ii) low).
Invalidation Zone: Below $0.6476, invalidating bullish wave structure.