Cardano (ADA) Targets $5.35 as Fibonacci Levels Signal 660% Rally Potential - Blockonomi

TLDR:

• Cardano could gain 660% if it repeats its previous Fibonacci-based bull cycle.
• Price action remains steady with strong support seen near the $0.51 level.
• Nasdaq index listing adds legitimacy to ADA, boosting long-term investor confidence.
• Analysts eye $1.00 as the next major resistance before a potential breakout run.

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Cardano (ADA) may be gearing up for a major price breakout, as analysts point to a potential rally aligning with its historical trends. 

Market watchers suggest that ADA’s current pattern resembles its previous bull cycle, indicating the possibility of a substantial upside. A renewed focus on key Fibonacci levels has reignited bullish sentiment, with projections placing a potential target near $5.35. 

ADA’s recent price activity has shown resilience, sparking discussion around upcoming support levels and long-term growth. The asset remains under $1, but analysts believe market dynamics could trigger a sharp rally if momentum builds.

Crypto analyst JavonMarks recently analyzed ADA’s current chart using Fibonacci extension levels, comparing it to the asset’s prior bull cycle. 

Using $ADA (Cardano)'s previous bull cycle as a guide for this one, prices could be setting up for another move to and above its 1.272 Fibonnaci Level which is currently at the ~$5.35 Price Point!

This means that a nearly +666% upside from here can be possible. https://t.co/fpfCeVoxA9 pic.twitter.com/Y1snBeAfEe

— JAVON⚡️MARKS (@JavonTM1) June 9, 2025

He identified the 1.272 Fibonacci extension near $5.35 as a critical resistance target. Based on the analysis, ADA could potentially gain over 660% from its current level if the trend repeats.

The chart highlights ADA’s previous rally after a consolidation period and a move beyond the $1 level. Historical price behavior shows that after stabilizing near key Fibonacci zones, Cardano often saw strong upside moves. 

According to the analysis, the same pattern could play out again if current support levels hold.

Current ADA Price Holds Steady Above Support

At the time of writing, Cardano trades at $0.6843, per CoinGecko data, with a 24-hour increase of 1.43%. 

Over the past week, ADA has gained 1.19%, reflecting moderate bullish movement. Market activity suggests ADA is still consolidating but holding firm above a key support zone.

Crypto tracker Most Angry Bull noted that ADA is approaching a support level near $0.51. He emphasized that a successful defense of this zone could open the path to a move toward $1.00. Traders are closely watching for a bounce to confirm further momentum.

Investor confidence in Cardano has also received a boost from regulatory developments. 

The SEC recently approved a Nasdaq crypto index, which includes ADA, signaling greater market legitimacy. Analysts believe this move could strengthen Cardano’s position as a credible long-term asset.

While short-term price action remains cautious, the broader outlook appears constructive. If ADA maintains its current support and follows past cycles, a rally remains possible. 

The combination of technical signals and market support is drawing attention from both retail and institutional participants.

Market Sentiment Builds Ahead of Next Cardano Move

The ADA price remains in focus as traders anticipate the next big move. Key levels such as $0.51 and $1.00 are seen as critical in confirming the trend direction. With historical data supporting potential gains and market sentiment improving, ADA is now positioned for a decisive phase.

Analysts continue to track volume, price structure, and macro sentiment. If momentum aligns, ADA could mirror its past bull pattern and test long-term Fibonacci targets.