Cardano (ADA) Breaks Free from 140-Day Downtrend with Increased Trading Volume
Cardano (ADA) has made headlines by breaking away from a prolonged 140-day downtrend, with trading volumes surpassing $1 billion, reflecting a significant 46% increase. Currently, ADA is trading within the range of $0.68 to $0.73, showing a notable rise of 9.57% over the past 24 hours. Technical analysis indicates that the risks of a price bubble are low despite this strong surge, suggesting that the momentum is healthy. Short-term price targets are set between $0.78 and $0.80, with a possible climb to $0.90 based on Elliott Wave analysis. If this rally continues, long-term targets could reach $1.28, representing a 75% gain, and potentially $1.49, which would signify a remarkable 104% increase.
Current ADA Price and Market Activity
With Cardano’s price currently situated between $0.68 and $0.73, it marks a 9.57% increase in just one day, elevating its market capitalization beyond $24 billion. The trading volume has dramatically exceeded $1 billion, indicating heightened interest from both traders and investors. This latest price action signifies a clear breakout from a resistance level that had constrained previous attempts at rallies since late 2024. After experiencing nearly five months of downward movement, the surge in trading volume by 46% highlights a renewed enthusiasm in the market, often a precursor to significant price shifts following periods of stagnation.
Technical Breakouts Indicate Potential for Further Gains
Cardano has successfully closed above a key 12-hour trendline that had restricted bullish momentum since March 2025. This is not merely a false breakout; it represents a substantial technical development that could pave the way for further price increases. The critical breakout zone to monitor is between $0.73 and $0.75. Sustaining above this range would validate a bullish outlook and could lead to additional upward movement. Interestingly, analysis from Into The Cryptoverse suggests that the short-term bubble risk for ADA remains low, indicating that the current upward momentum has not yet reached an unsustainable level. Historical data shows that ADA typically experiences heightened bubble risk right before local peaks, but such a pattern is not evident in the current market dynamics, leading to a healthier outlook than previously anticipated.
Elliott Wave Analysis Signals Higher Price Targets
Elliott Wave analysis indicates that Cardano may be entering the initial phases of a five-wave impulsive upward movement. This framework suggests that ADA has completed its second wave and is currently in the third wave, targeting the $0.90 vicinity in the near term. If Cardano can maintain its position above the $0.70 to $0.73 support level, the upcoming trading sessions could revisit $0.78 and potentially $0.80. These levels had previously functioned as resistance, and transforming them into support would signify a continuation of the bullish trend. The ascending trendline remains a vital reference point for traders, as holding above this line would strengthen the bullish narrative, especially following an extensive period of consolidation.
Long-Term Prospects If Rally Maintains Momentum
Looking at the long-term potential, technical analysis of the daily chart shows that ADA has emerged from a descending wedge pattern, a classic reversal formation that indicates seller fatigue and a resurgence of buyer activity. Should the current rally retain its momentum, the first significant target to watch would be $1.28, reflecting a 75% increase from current levels. Achieving this price would be a testament to Cardano’s robust rebound capacity. Following that, the next notable target of $1.49 would equate to about a 104% surge from present levels, further solidifying ADA’s strength. The divergence between the rising price and falling volume in recent days suggests that selling pressure may be diminishing, indicating that stronger holders are accumulating the asset while weaker hands exit the market. Cardano’s market structure appears to have shifted into a more positive phase, moving out of consolidation and establishing higher lows, a significant change after a prolonged period of relative inactivity. The timing of this breakout aligns with increased activity across the altcoin sector, suggesting that ADA is poised to join the ranks of better-performing altcoins after a spell of underperformance. As the broader cryptocurrency market experiences slight pullbacks, ADA’s ability to maintain support levels showcases its remarkable relative strength. While Bitcoin hovers around $91,700, Cardano’s price movements indicate a shift from bearish corrections to a resurgence of bullish energy. Recent price actions demonstrate ADA’s resurgence above the crucial $0.70 support zone, which has historically served as a strong base for upward movements. As technical indicators and on-chain metrics align favorably, Cardano seems well-positioned for continued upward momentum, signaling a transition from months of downward pressure to the potential onset of a new bullish phase for the eighth-largest cryptocurrency by market capitalization.
