Cardano merged in symmetric triangle – analyst sets bull/bear target targets
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Cardano started soaring more than 40% from its lows in early April, suggesting a bullish interest in the altcoin sector as a whole. As the broader crypto market faces macroeconomic uncertainty and consolidates below major resistance levels, the ADA is now entering a critical phase. Price action remains, but emotions are shifting because investors’ eyes key technology patterns can define the next action.
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Top analyst Carl Runefelt recently stressed that Cardano consolidated this pattern in a symmetrical triangle on the 4-hour chart, which is usually before a sharp breakthrough. This technology formation shows that the ADA is surrounding the line to make decisive actions, with bulls and bears fighting for short-term control. The current range continues to tighten over the weekend, and once the breakout direction is confirmed, volatility is expected to recover.
Actions above $0.7730 will indicate bullish continuation and potentially trigger the other leg, directly to the $0.85–$0.90 area. Loss support near $0.6280, on the other hand, could trigger wider corrections. As long as the ADA maintains its structure and stays above the critical moving average, the bullish trend remains intact.
As buyers regain short-term control
Cardano showed signs of strength, although the close-knit consolidation range of the deal was below $0.75. Getting more than 40% from the lows in early April, the ADA entered a critical stage, and the Bulls gradually regained control. Recent price action suggests that breakthroughs may occur, especially if the ADA maintains its current level of support and builds further momentum.
Cardano has traded sideways over the past few days, struggling to exceed the $0.75 resistance level. Although this movement of boundaries frustrates some traders, it also reflects market stability, a common precursor to large-directional movements. If the Bulls manage to push the ADA higher to a resistance of $0.7730, there may be a continuous rally, possibly targeting the $0.85 or even $0.90 area.
Technical insights shared by Runefelt show that Cardano is forming a 4-hour symmetric triangle, a structure that is usually ahead of a sharp breakthrough. The triangle’s vertices are approaching, meaning there may be decisive moves in the next few meetings. The key bullish breakout level remains at $0.7730. On the other hand, a failure of support below $0.6280 will invalidate the bullish structure and may trigger a wider retracement.
Overall, if Cardano can retract resistance and confirm a breakout, it can maintain a good position. The Bulls will need to step in decisively to avoid counterfeiting or extended mergers. As the broader cryptocurrency market consolidates around highs, the ADA’s setup is one of the most promising settings in large Altcoins. The next step may set the tone for Cardano’s trend in the coming weeks.
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ADA Price Analysis: Merger Continues
Cardano (ADA) is currently trading at $0.6963, which is consolidated below the 200-day moving average (SMA) at $0.7766 and slightly below the 200-day exponential moving average (EMA) at $0.7113. This tight compression suggests that a critical moment is coming, especially as the ADA tries to keep its ground above the short-term support of $0.67.
Price action on the daily chart shows that the ADA has been coiling in a narrow range after 40% rebounding from April lows. Although the market shows a wider market, the ADA has not yet managed to surpass the exchange rate that puts average overheads beyond decisiveness, which is a necessary step to decisively bullish market structure. The $0.77-$0.78 level remains a key resistance to retraction. Daily approach above the area can validate the breakthrough and push the ADA toward a psychological $1.00 of $1.00, last tested in early January.
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During this merge process, the volume is relatively heavier, which is usually before a major move. On the downside, the loss of $0.67 level would be a bearish signal that could open the door to retesting $0.62 or even $0.58.
Featured images from DALL-E, charts from TradingView
