Smith, market analyst of X, highlights that ADA is developing a long-term cup and handle pattern. This pattern began to develop in 2022 and is approaching its completion, with resistances around $0.90 and $0.93. The analyst predicts that a breakout above this level could trigger a sudden bullish surge that could also reach the target of $4.
The price has also remained firmly within the $0.60–$0.90 zone for over a year, allowing it to build a solid foundation. This continuous sideways movement has served to reduce excessively enthusiastic volatility and has swept away weaker positions.
When the price exceeds the neckline, short-term traders could also join in, generating further bullish pressure. These patterns tend to provoke long-term rises when validated by both price and volume. Based on this structure, the current price prediction for ADA points to a possible breakout if the resistance of $0.93 is surpassed with strong buying pressure.
On the daily chart, Cardano is building the right half of a rounded base after bouncing from the support of $0.6943. The price is heading toward a crucial resistance zone of $0.85 to $0.93. This zone corresponds to the neckline of the larger pattern and is a critical region that needs to be monitored.
The stochastic RSI offers a supportive outlook. The fast line has crossed above the signal line from a deep oversold area. This behavior often indicates early signals of a price movement, especially when it occurs near structural support.
As long as buyers continue to press and volume increases, ADA could gather enough strength to break the neckline in the coming days. Otherwise, increased volatility could hinder a breakout and keep the market in a waiting situation.
