TLDR
- Cardano (ADA) shows signs of breaking from a Falling Wedge pattern with potential for a 300% price surge to $2.65
- Currently trading around $0.68-$0.70 after a recent 4% climb, facing resistance at the $0.70 level
- Charles Hoskinson predicts Bitcoin could reach $250,000 within 12 months, which could drive ADA to cross $2
- Technical analysis indicates multiple Fibonacci targets, with $0.81, $1.01, and $1.83 as key levels
- Bullish momentum building with support at $0.63-$0.65 range and near-term target at $0.75
Cardano’s price is showing promising signs of a major breakout after consolidating in a Falling Wedge pattern since January 2025. Currently trading at around $0.68, ADA recently climbed 4% before facing resistance at the $0.70 level, a psychologically important threshold for traders.
The cryptocurrency has formed a higher low on April 7, 2025, finding support in the critical $0.57-$0.60 zone. This price action has caught the attention of analysts who see it as confirmation that Cardano may have reached a bottom.
A notable technical analyst on TradingView, Master Ananda, has released a chart report predicting a potential 300% price surge for Cardano. The forecast is based on the breakout from the Falling Wedge pattern visible on ADA’s monthly chart.
Technical Targets Point to Major Upside
The breakout from the Falling Wedge pattern signals the possible end of Cardano’s correction phase and the beginning of a new bullish cycle. If the pattern holds true, ADA could reach multiple Fibonacci Extension levels serving as future price targets.
The first major target sits at the 0.382 Fibonacci level, aligning with $0.81. From there, Cardano is expected to test the 0.5 Fib at $0.91, the 0.618 Fib at $1.01, and the 0.786 Fib at $1.14.
With continued momentum, ADA could rally toward $1.3 before potentially reaching the 1.618 Fibonacci Extension at $1.83. The ultimate target in this analysis is $2.65, which would represent a 300% increase from current levels.
The BBP (Bull Bear Power) indicator has turned positive at 0.0900 for the first time since early March, suggesting growing bullish momentum. Price action is currently compressing between major moving averages, often a precursor to increased volatility.
#Cardano $ADA is breaking out. $0.77 next! https://t.co/f8jr43lPOi pic.twitter.com/3FcMcR7ysT
— Ali (@ali_charts) April 22, 2025
Hoskinson’s Bitcoin Forecast Fuels Optimism
Charles Hoskinson, the founder of Cardano, recently shared his bullish outlook for the broader crypto market in a CNBC interview. He predicted Bitcoin could reach $250,000 by the end of 2025 or early 2026.
According to Hoskinson, this projected rally will be fueled by upcoming U.S. crypto legislation, including the recently passed Crypto Stablecoin bill. He also cited anticipated Federal Reserve interest rate cuts as another key catalyst.
“The markets will stabilize, the Fed will cut rates, and a wall of capital will pour into crypto. That’s what people are preparing for. Bitcoin could easily be over $250,000 by the end of this year or next year,” Hoskinson stated in the interview.
Historically, Cardano has mirrored Bitcoin’s momentum during bull cycles. If Bitcoin reaches Hoskinson’s predicted price target, ADA could potentially breach $2 based on past correlations.
Hoskinson expects increased institutional interest from major tech companies to contribute to a speculative boom between August and September. The resulting wave of capital could flow heavily into altcoins, including ADA.
Despite the longer-term optimism, Cardano faces technical constraints in the short term. The price is currently hugging the 50-day simple moving average at $0.6824, having recently reclaimed it after weeks of trading below this level.
A sustained close above this dynamic level would signal the potential for a push toward the 100-day SMA at $0.7663, with $0.75 emerging as the immediate upside target. The 200-day SMA at $0.7590 remains a key long-term resistance level.
From a technical standpoint, ADA must break and hold above the $0.70 resistance to maintain the current bullish momentum. Failure to close above this level may lead to a retest of the $0.63-$0.65 support zone.
Master Ananda’s analysis suggests that the projected move to $2.65 is not the top of the cycle but part of a much larger trend. The analyst emphasizes that this long-term bullish growth will not happen overnight but could extend well into Q3 2025.
As long as prices hold above the 0.236 Fibonacci support at $0.69, long positions are expected to remain secure according to the analysis. Short-term price swings are expected, but the underlying structure suggests Cardano is entering a sustained growth phase.
The recent 4% price rise on Thursday came with increased trading volumes, adding credibility to the upward movement. However, the rally slowed as it approached the $0.70 resistance level.
For near-term price action, Cardano may need a clear break above $0.70 before advancing further. If successful, the next targets would be $0.75 followed by $0.80, with $1.00 acting as the next major resistance.
