🚀 Cardano Preps for Breakout – Could a 40% Rally Be Next?
Cardano (ADA) has bounced back strongly this July, surging nearly 25% from its lows to around $0.63 on rising volume (+87% in daily volume, now over $1.1B) Bitget+15Coindoo+15CoinGape+15CoinGape.
📊 Key Technical Setup
Formed a double-bottom pattern around $0.5086 (twice — in April & June), signaling potential bullish reversal Bitget+9Coindoo+9CoinGape+9.
A breakout above the $0.8630 neckline could unlock ~40% upside, with the next resistance near $1.20 CoinGape+2Coindoo+2FX Leaders+2.
🔥 Momentum Turning Bullish
RSI jumped from oversold (~29) to ~56, confirming renewed buying strength Mitrade+12Coindoo+12CoinGape+12.
MACD crossed bullishly, approaching zero — another positive signal Coindoo.
🌐 Ecosystem & Volume Drivers
Meme-coin “Snek” rally (+11%) on Cardano is boosting interest and DeFi activity Blockchain News+10FX Leaders+10CoinGape+10.
DEX volume on Cardano rose to ~$3.1M in 24h — the highest since July 3 coindesk.com+12FX Leaders+12CoinGape+12.
Open interest in ADA futures nearly $1B, reflecting institutional accumulation Bitget+6FX Leaders+6AInvest+6.
⚠️ Watchlist Risks
A drop below $0.50 would invalidate the bullish setup (double bottom) Blockchain News+7Coindoo+7CoinGape+7.
Volume needs to keep up to confirm momentum — if interest fades, ADA may stay range-bound between $0.54–$0.61 Coindoo+1Bitrue+1.
🔮 Summary
ADA shows strong signs of a bullish breakout:
Profitable technical setup
Cooling oversold momentum
Buzzing ecosystem activity
🚀 Next big moves depend on a breakout above $0.8630 and sustained volume. That could lead to a big 40%+ rally, maybe even toward $1.20.
❓ Poll: Will ADA break above $0.8630 (40% upside) this month?
1️⃣ Yes, breakout incoming!
2️⃣ Maybe — need more volume.
3️⃣ No, too early — risk remains.