Cardano's price is showing strong signs of a breakout, a technical analyst noted that its price is about to skyrocket by 300%. If the current pattern continues, ADA may be brewing a strong bullish momentum and could push the price up to $2.65 in the coming months.
Master Ananda, a cryptocurrency analyst at TradingView, has released a new chart report predicting that Cardano's price will surge by 300% within the next three months. This analyst's strong bullish outlook for ADA stems from the descending wedge pattern formed on the cryptocurrency's monthly chart.
Cardano's price is expected to rise by 300%.
The descending wedge is a unique reversal pattern that suggests a bullish reversal may occur after a period of decline. This pattern has been forming on the Cardano price chart since January 2025, characterized by a series of lower highs and lower lows, gradually tightening within the structure. Currently, Cardano's price has broken through the upward trend of the descending wedge, indicating that the long correction phase for this cryptocurrency may be over and a new bullish phase may begin.
Adding fuel to this optimistic outlook, Master Ananda revealed that ADA formed a higher low on April 7, 2025, aligning with a key support area around $0.57 to $0.60. Analysts believe this move confirms that Cardano may have reached the bottom, highlighted by significant buying pressure during the long decline in early February.
Source: Master Ananda on TradingView.
Based on Cardano's current technical setup, Master Ananda predicts that the cryptocurrency will rise by over 300% to reach $2.65. This bullish target aligns with the 2.618 Fibonacci extension level on the price chart.
Given Cardano's current trading price of $0.7, analysts expect it to break through several key Fibonacci extension levels, each becoming a future price target. The first major target is at the 0.382 Fibonacci extension level, aligning with the $0.81 level. From here, Cardano's price is expected to break through the 0.5 Fibonacci extension level ($0.91), the 0.618 Fibonacci extension level ($1.01), and the 0.786 Fibonacci extension level ($1.14).
If the momentum continues, ADA may rebound to a high target of $1.3, then soar to the 1.618 Fibonacci retracement level, which is $1.83. Once this level is successfully broken, the cryptocurrency is expected to reach the final target of $2.65 predicted in this analysis.
ADA is expected to achieve long-term growth.
According to Master Ananda's analysis, ADA's current price action is just the beginning of a mid-term bullish momentum that could extend into the third quarter of 2025. While short-term price fluctuations are expected, the underlying structure of the descending wedge pattern indicates that Cardano is entering a phase of sustained growth.
Furthermore, TradingView analysts revealed that the expected rise to $2.65 is not a cyclical top but part of a larger trend. He emphasized that this long-term bullish growth will not happen overnight. However, as long as the price remains above the 0.236 Fibonacci support level of $0.69, bullish positions are expected to stay secure.
