Cardano price is approaching a key technical level that could trigger a breakout toward higher levels. Currently trading at $0.73, the top altcoin is moving closer to the apex of a symmetrical triangle pattern that has developed over several weeks. Technical analysis points to a potential breakout that may lead to a move toward the $1.1278 mark, representing a possible 50.95% increase from the breakout point.

Cardano Price Nears Key Breakout Level; Targets $1.1278

According to analyst Trendxinc, the Cardano price is approaching a critical resistance near $0.80. A daily close above this level may confirm a breakout from the symmetrical triangle pattern forming on the daily chart. The structure has been developing over several weeks, marked by lower highs and higher lows.

Trendxinc’s analysis suggests that a breakout from this triangle could propel the Cardano price toward $1.1278. This level aligns with historical resistance zones. If the breakout is supported by strong volume, it may confirm trend continuation. Price consolidation in a tight range has created a build-up of momentum.

Additionally, technical charts show that a sustained move above $0.80 may trigger follow-through buying. The pattern signals potential for a directional move. Volume confirmation is essential, as breakouts without strong volume may reverse quickly and fail to sustain the altcoin rally. A retest of the breakout zone could occur before a continued upward move.

Meanwhile, ADA whale movements, with over 240 million tokens accumulated, reflect growing confidence in a potential price surge. This strategic buying, combined with long-term holder conviction, supports the case for a continued upward trend toward $0.85.

Bullish Flag Pattern Signals Continued Strength

Moreover, analyst Lucky Luciano identified a bullish flag on Cardano price charts. The flag pattern follows a strong uptrend and is defined by a downward-sloping channel. This structure generally precedes trend continuation when resolved to the upside.

Luciano’s analysis points to resistance near the upper channel boundary. Previous attempts to break above this level have failed. However, current momentum and volume suggest the top altcoin may now be positioned for a stronger attempt. If successful, the next potential ADA price target is around $1.30.

Luciano mentioned that the altcoin could reach $1.80 if momentum continues. The structure of the flag and its relation to past resistance levels provide traders with short- and mid-term targets. The Cardano price must maintain support and close above resistance to confirm this scenario.

Gambardello Draws Long-Term Parallel with Amazon

Meanwhile, market expert Dan Gambardello compared Cardano’s development to Amazon’s early growth phase. He referenced Amazon’s recovery after a deep decline during the dot-com era. According to Gambardello, the Cardano price movement resembles early Amazon charts in structure.

He noted that ADA is still far from its all-time high but continues to build a scalable ecosystem. The altcoin’s development approach is focused on long-term growth. This has kept Cardano price stable during broader market corrections.

Gambardello stated that macro conditions may support Cardano’s next growth phase. The comparison to Amazon is based on resilience, innovation, and long-term planning. 

Similarly, a recent analysis supports ADA price prediction to the $1 mark, highlighting strong bullish momentum driven by increased whale activity and rising investor interest. Technical indicators align with this outlook, suggesting that the altcoin could reach $1 within the week.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.