The post Cardano Price Prediction Points To New ATH as Bullish Breakout Looms appeared on BitcoinEthereumNews.com.
Cardano (ADA) price is showing strong signs of a potential breakout as it consolidates near $1.10, sparking optimism among traders. Ali Charts, a cryptocurrency analyst, has highlighted a bullish pennant formation on ADA’s price chart, suggesting an upward move could be on the horizon. If this pattern plays out, Cardano price could target higher levels, with the possibility of reaching $1.40 in the short term and breaching the previous all time high of $3.10. The cryptocurrency has gained 28% since the start of 2025, supported by growing network activity and increased investor interest. Cardano Price Prediction Points To New ATH Cardano’s price is currently forming a bullish pennant, a technical pattern that often predicts a continuation of an uptrend. This pattern is characterized by a sharp price increase, followed by consolidation in a triangular shape. The resistance level of the pennant is around $1.11, while the support lies near $1.10. If ADA breaks above the upper trendline, traders could expect the price to surge, with a target near $1.40. Ali Charts emphasized that the “Cardano breakout to $3 could be fast and smooth” if bullish momentum strengthens. This ADA price prediction aligns with an ealier analysis by Coingape pointing to a similar price breakout after the formation of an Elliott Wave. Technical indicators also support this outlook. The Relative Strength Index (RSI) is at 67, reflecting strong buying activity, though it is approaching overbought levels. Meanwhile, the MACD (Moving Average Convergence Divergence) remains in bullish territory, suggesting continued upward pressure. Rising Network Activity Boosts Investor Confidence In addition to technical signals, Cardano’s network activity has been gaining momentum, which could further support its price action. According to data from DeFiLlama, the Total Value Locked (TVL) on the Cardano blockchain has surged to $595 million, marking a 33% increase since the…