Falling Wedge and RSI Signal Potential Cardano ADA Breakout
Technical indicators on Cardano’s daily chart suggest a possible ADA breakout after a pattern last seen before its July rally. The token’s Relative Strength Index (RSI) recently reset below 40, mirroring the setup that fueled a 97% ADA surge over 54 days. At the same time, ADA has formed a falling wedge pattern, typically a bullish reversal signal.
ADA is trading around $0.5665, up 4.2% weekly but down 21% monthly. A decisive move above the wedge’s upper boundary near $0.67–$0.70 could open targets between $0.75 and $0.85 (32%–50% upside). Conversely, a breach below support at $0.47–$0.50 risks a drop to $0.33. If ADA replicates the 97% rally triggered by its RSI reset, price could climb toward $1.1.
Other analysts echo the bullish thesis: Ali Martinez highlights $0.50 as critical support for a rebound to $0.70, while Crypto analyst Mintern projects a longer-term rise from $0.77 to $4–$5. These converging views reinforce the case for a Cardano ADA breakout.
Bullish
The combination of an RSI reset below 40 and a falling wedge formation has historically preceded ADA’s sharp rallies, most notably the 97% surge in July. A clean breakout above $0.70 would confirm waning selling pressure and could trigger upside targets between $0.75 and $0.85, representing 32%–50% gains. Analysts Ali Martinez and Mintern also highlight key support at $0.50 and potential longer-term targets up to $4–$5, reinforcing bullish sentiment. While a drop below $0.47 would invalidate the bullish setup, the convergence of technical patterns and expert views suggests positive momentum ahead, making the outlook predominantly bullish for both short- and long-term traders.