Cardano Breakout: Triangle Pattern Could Trigger a 27% Surge
Ali Martinez analyzes the Triangle pattern on Cardano's price, with an upward breakout that could trigger a surge of up to 27%. The current price of ADA is around $0.64, up 4% in a week.

In a recent post on X, analyst Ali Martinez discusses the technical analysis (TA) pattern forming on Cardano’s hourly price. The pattern in question is the Triangle, which forms when an asset consolidates between two converging trend lines.
The upper trend line is likely to act as a source of resistance in the future, while the lower trend line could provide support. As with many other TA consolidation patterns, a breakout past either of these lines can indicate a continuation of the trend in that direction.
As the trend lines converge, the more the price moves within this consolidation channel, the tighter the range becomes until it ultimately concentrates at a point.

It appears that the coin's price has breached the upper line of the pattern | Source: @ali_charts on X
Types of Triangles in Technical Analysis
There are several types of Triangles in TA. The most popular variants include Ascending, Descending, and Symmetrical Triangle. In the context of this topic, the relevant Triangle is most similar to the third one. In this pattern, the trend lines converge with nearly equal slopes opposing each other towards a midpoint.
Breakout and Price Movement Predictions
Here is the chart shared by the analyst showing the Triangle where Cardano has been traded over the past few days.

ADA price trend over the past five days
As seen in the chart, Cardano has been moving within this Triangle for almost three weeks, before finally breaking out the day before. Just before the breakout, the coin nearly reached the peak of the triangle, which means the consolidation had become very tight.
Generally, when an asset's range becomes tighter, breakouts become more likely. Yesterday, before ADA experienced a breakout, analysts shared the same chart for this Triangle, indicating that the time was ready to move.
Martinez notes that this movement could potentially represent a surge of 27%, based on the height of the Triangle from the lowest price point. The question is, which direction will the breakout occur?
In Symmetrical Triangles, breakouts can occur in both directions. However, the Triangle followed by Cardano this time is not entirely Symmetrical, as it has a slight bias towards upward. This means that a breakout to the upside is slightly more likely, although only marginally.
Small gains in this possibility seem to be proving true for ADA this time, as the price has now surpassed the upper resistance line. Now it remains to be seen whether this movement will develop into a surge of 27% as predicted by the height of the Triangle.
At the time of this writing, Cardano's price is around $0.64, up more than 4% in the last seven days.
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