TLDR
- Cardano is currently consolidating between support at $0.340 and resistance at $0.37, awaiting a potential breakout.
- Analysts predict that Cardano could target a price of $0.669 if the bullish wave (C) follows the completion of the IK pattern.
- The cryptocurrency’s retracement wave is nearing its end, with the possibility of entering a strong upward trend soon.
- Cardano’s price action will depend on breaking key resistance levels, particularly at $0.37 and $0.384.
- The current market conditions indicate a potential 87% increase in Cardano’s price from its current levels.
Cardano has formed an impulsive corrective (IK) pattern, potentially leading to a surge in price. Analysts believe that the retracement wave is nearing completion, setting the stage for a bullish uptrend. The target price is projected at $0.669, marking a potential 87% increase from the current levels.
Cardano is currently consolidating within a price range between $0.340 and $0.37. The cryptocurrency has been holding steady in this zone after a recent retracement. As the retracement wave comes to an end, a breakout could signal the beginning of a bullish trend.
The support level around $0.340 has provided stability, while the resistance at $0.37 continues to cap upward movements. Breaking through this range could lead to further price discovery. Analysts are closely watching these levels as a potential breakout could trigger a stronger uptrend.
IK Pattern Signals a Bullish Reversal for Cardano
The IK pattern, first observed by analyst BlueSK9, consists of impulsive and corrective waves. Cardano’s wave (A) formed in early January, reaching a yearly high of $0.437. Shortly after, wave (B) began, marked by a price correction that brought Cardano to a low of $0.332.
Wave (B) could be nearing its end if Cardano holds above $0.340. If the cryptocurrency breaks above the resistance zone at $0.37, it will validate the pattern and signal the start of wave (C). Wave (C) would drive prices higher, potentially targeting the $0.669 level, which Cardano last reached in October 2025.
Cardano’s recovery depends on breaking several key resistance levels. As the cryptocurrency nears the end of the corrective phase, momentum could shift towards a strong rally. Investors are focused on the upcoming price action to determine whether the bullish wave (C) will materialize.
Potential Resistance Levels to Watch
After breaking above the $0.37 resistance, ADA will face another supply zone at $0.384. This level, aligned with a descending trendline, will be crucial for the continuation of the bullish move. If Cardano overcomes this resistance, it could test the $0.43 area, confirming the bullish trend.
The target of $0.669, a price not seen since October 2025, represents a significant upside potential for Cardano. Achieving this target would mark an 87% gain from the current price. However, investors should remain patient as the pattern continues to develop in real-time.
