The Cardano (ADA) price reached a five-month high today.
Cardano broke out from a long-term descending parallel channel.
Can Cardano sustain its breakout and reach a new cycle high?
Cardano (ADA) has climbed to its highest level in five months, finally breaking out of a long-term downtrend.
After spending more than 250 days stuck in a descending parallel channel, the bulls finally have the upper hand.
Let’s examine the charts and see what’s next for Cardano.
Cardano’s Bullish Breakout
The ADA price had fallen inside a descending parallel channel since its cycle high of $1.32 in December 2024.
Throughout the entire year, the price of Cardano bounced at the channel’s support three times (green icons), creating a triple bottom pattern.
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On top of this, ADA validated the $0.60 horizontal support area thrice, giving even more validity to the bullish price action.
As is likely after such a structure, the Cardano price started an upward movement in July, leading to an ADA breakout from the channel today, after more than 250 days.
Breakouts from such long-term structures usually lead to sustained upward movements.
Not only is this the case, but momentum indicators have given a signal that previously led to rallies of 176% and 316%, respectively.
To explain more clearly, the Relative Strength Index (RSI) crossed 50, while the Moving Average Convergence/Divergence (MACD) made a bullish cross (black).
Even an increase in the lower range of the signal, meaning at 176%, will lead to a high of $2.06, giving a bullish Cardano price prediction for the rest of 2025.
ADA Price to $2?
The price action and momentum indicators have given a signal that could lead to an increase toward $2.
Next in line is the wave count, which gives a very similar target of $1.84.
According to the count, the Cardano price completed a five-wave upward movement (green) and an A-B-C correction (red), where waves A and C had the same length.
The Cardano price is currently in wave three of the ensuing five-wave upward movement, which could take it to $1.84.
While correction could occur along the way, the ADA price has likely started the most parabolic portion of its upward movement, leading to a new cycle high.
New Cycle Highs Incoming
With a triple bottom pattern in place and key indicators turning positive, Cardano looks ready for a decisive move higher.
Targets between $1.84 and $2.06 are now on the radar, hinting at plenty of room for growth.
If the trend holds, ADA could be heading for a new cycle high in the months ahead.
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.
