Here's Why Cardano Could Reach $1 | Credit: Hameem Sarwar
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Key Takeaways
Cardano’s (ADA) price has created a double bottom pattern.
The ADA price trades inside a descending parallel channel.
Can ADA break out from its channel and confirm the bullish pattern?
Cardano (ADA) has bounced at the $0.56 horizontal level thrice since February.
Recently, it reached it on June 22, bouncing and creating a bullish candlestick.
The Cardano price action suggests the bounce completed a bullish pattern, confirmed with a breakout above $0.65.
Let’s examine the charts and see if this breakout is likely.
ADA’s Bullish Pattern
The daily time frame ADA analysis shows the price has fallen inside a descending parallel channel since May 2025.
Such channels usually contain corrective movements, making an eventual breakout from the most likely scenario.
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On June 22, ADA reached the channel’s support trend line and bounced (green icon), creating a bullish candlestick the next day.
The bounce was critical since it validated the $0.55 horizontal support area and created a double bottom pattern relative to the price in April.
The double bottom is a bullish pattern that often leads to trend reversals. When the channel movement is taken into account, the pattern becomes even more valid.
ADA Daily Chart | Credit: Valdrin Tahiri/TradingView
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
