Cardano Could Revisit $0.38 Support Before Surging Toward $2.40, Analyst Suggests
A new technical analysis suggests that Cardano (ADA) might revisit a major support zone before launching a significant rally. According to Bitcoinsensus, a respected market technician, the token continues to...
A new technical analysis suggests that Cardano (ADA) might revisit a major support zone before launching a significant rally. According to Bitcoinsensus, a respected market technician, the token continues to trade within an ascending broadening wedge pattern. This formation has guided ADA’s long-term structure, with price action repeatedly respecting both the upper and lower trendlines.
— Bitcoinsensus (@Bitcoinsensus) June 19, 2025#Cardano ready for a massive move up📈$ADA has been moving inside this ascending broadening wedge channel throughout this bull market.
It is now in the process of coming back down to retest the lower end of the channel before moving higher.
Next Price Target : 2.40$ pic.twitter.com/GopBc9iWts
Despite ADA trading at $0.6042 today, marking a slight daily gain of 0.32% but a weekly decline of 5.56%, analysts see signs that a larger breakout could follow after another retest of lower support.
Broadening Wedge Formation Anchors ADA’s Price Action
Bitcoinsensus identified the broadening wedge pattern based on a series of historical rallies and pullbacks. The wedge began forming after ADA experienced two sharp rejections near the upper boundary. The first rejection occurred around $0.41 in February 2023, followed by a second at $0.45 on April 16, 2023.
Both pullbacks sent Cardano toward the wedge’s lower boundary. In October 2023, the price reached a low of $0.24, and again in November 2023, it rebounded from approximately $0.35. Each time, the lower trendline acted as solid support, holding off deeper losses.
These consistent bounces laid the foundation for a significant rally that propelled ADA by over 200%, ultimately pushing the token to around $0.66 by mid-December 2023.
Related article: Cardano Wins Bullish Poll by Wide Margin, XRP Trails Far Behind
Cardano Repeats Rally Pattern With Greater Strength
After retracing from the December peak, ADA continued to respect the wedge structure. In March 2024, the token reached a local high of $0.77 before dropping again, this time to around $0.27. The analyst pointed out that this decline marked the third major test of the wedge’s lower limit.
What followed was even more impressive. ADA surged by nearly 300%, reaching $1.32 by December 7, 2024, during a broader market rally that spanned Q4 2024 to Q1 2025. This rally, originating from the third support touchpoint, reinforced the bullish structure and validated the wedge as a reliable pattern in Cardano’s chart.
According to the analysis, each new rally appeared stronger than the last. The first gained 200%, the second delivered 300%, and the pattern hinted at even greater upside potential, assuming another bounce occurs from the wedge’s lower support.
Analyst Expects Retest at $0.38 Before Bullish Breakout
Following the $1.32 peak, Cardano entered a sustained pullback phase. Bitcoinsensus believes this correction may continue until the price revisits the wedge’s lower boundary near $0.38.
This would align with the pattern’s previous behaviour, where each retracement touched the lower trendline before a significant upside move followed. Should this retest materialise and hold, the analyst forecasts a massive 550% rally, targeting $2.40 in the long term.
The $2.40 price target not only represents a key psychological resistance level but also aligns with projections from earlier cycles, which showed exponential growth once ADA reclaimed momentum after multiple pullbacks.
Additional Indicators Point Toward Bullish Reversal
Other technical analysts have also shared bullish signals for ADA. Notably, Rose Premium Signals, another reputable trading account, recently identified a potential triple-bottom pattern forming on Cardano’s chart. If this structure confirms, it could mark a key bullish reversal point, especially if the $0.38 support remains intact.
In addition, a falling wedge pattern has appeared in the recent chart structure. ADA has twice failed to break through the wedge’s upper resistance, first at $1.30 on December 2 and again at $1.17 on March 3. If Cardano breaks above this resistance line, analysts expect the price to climb toward $1.0057, $1.2114, and $1.4329 as interim targets.
Cardano’s current market behaviour reflects a complex but potentially bullish structure. The consistent respect of the broadening wedge pattern suggests that another retest near $0.38 could trigger a long-awaited upside breakout.
Suppose the lower trendline holds and historical patterns repeat. In that case, ADA may not only recover lost ground but also surge toward $2.40, representing one of the most significant rallies in its recent history.
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