• ADA hovers above key support, showing signs of a bullish reversal pattern.

  • Fibonacci levels and wedge structure hint at a potential breakout toward higher targets.

  • ADA could rally toward $2, $5, $7, or $12 if momentum builds.

Cardano's ADA hasn't been sleeping. After weeks of quiet consolidation, pressure builds near key support levels. The charts whisper of a brewing storm, one that could propel ADA into the stratosphere. Eyes are locked on the $0.65 zone, where history and Fibonacci meet. A breakout could send shockwaves through resistance levels. The question isn’t if ADA will move—it’s how far and how fast. Buckle up—this might get wild.

https://twitter.com/IMTYLERBURKE/status/1918645285544218683 ADA’s Structure Hints at a New Rally

Cardano surged with a powerful five-wave impulse, topping near $1.30 in December. Then came the pullback—a deep, grinding WXY correction—ending with a dramatic dip to $0.51 on April 7. That plunge may have closed the correction chapter. A recovery wave followed, rising toward $0.75 before slipping into a familiar zone—$0.62 to $0.65. This area had previously acted as a stronghold for buyers. It aligned perfectly with the 0.786 Fibonacci retracement. That overlap creates a potent mix of support and memory. A descending wedge—a classic reversal signal—formed during the correction.

These structures often spring upward, like a coiled snake ready to strike. ADA hovers just above this wedge’s base. The pattern appears complete. On the 4-hour chart, the Relative Strength Index floats near the oversold region. Momentum teeters. Buyers could soon overpower sellers. ADA looks poised to ignite another upward charge if this zone holds. Failure to defend $0.655 might break the bullish structure. That could push prices toward $0.622 or possibly $0.518. But for now, optimism dominates. The current formation doesn’t scream weakness. It whispers potential.

Fibonacci Levels Fuel Bold Targets

The 1-hour chart paints a clearer picture of ADA’s tightening coil. After topping near $0.76, prices retraced into the golden zone—again, the 0.786 Fib at $0.655. This move resembles wave (iv) within a broader impulsive pattern. Wave (v) could come next—and those tend to explode. A falling wedge also appears on this lower time frame.

That’s no coincidence. It supports the larger bullish structure and builds the case for a breakout. Traders are watching closely. A push above $0.76 could confirm wave (v). Once that happens, Fibonacci extensions offer bold targets: $2, $5, $7—even $12. Cardano has climbed those heights before.

With enough volume and conviction, those levels aren’t fantasies, they’re memories. For now, ADA isn’t just showing patterns—it’s telling a story. The setup screams reversal, the structure suggests strength, and the sentiment leans bullish. A breakout may not come with a whisper. It could roar. For now, momentum gathers. ADA could soon turn resistance into rubble and chase the sky.