Cardano Price Prediction: ADA Breaks Falling Channel With 30% Rally – Is $1 Now Locked In?

A bullish Cardano price prediction is gaining traction as ADA becomes the second-best-performing token in the top 10 over the past 7 days, with impressive gains of 23.3%.

This latest surge has analysts eyeing a potential move toward the key $1 psychological level in the near term.

Momentum across the altcoin market has accelerated, fueled by the approval of several altcoin-linked ETFs — including the Solana SOL + Staking ETF (SSK) from REX-Osprey — and a wave of pro-crypto legislation in the U.S. this week.

Pseudonymous trader The DApp Analyst, who has over 10,000 followers on X, shared a weekly chart showing that ADA may have officially broken out of its long-standing downtrend.

Weekly Cardano $ADA chart update

Price action is starting to shift in a meaningful way.

We’re seeing early signs of a potential trend reversal. ADA has broken out of the descending channel it’s been stuck in for months, and short-term momentum is turning bullish.

The weekly… https://t.co/Ao0ltdvp3D pic.twitter.com/fVBawVhTRy

These kinds of breakouts in high time frames are typically considered high-probability setups.

This trader emphasized that the Stoch RSI just stepped out of oversold levels, meaning that this breakout could be an early buy signal with huge upside potential ahead.

He set a target of $1.4 for ADA if the move aims toward the nearest area of external liquidity, meaning an 87% upside potential from where the price is right now.

Looking at the daily chart, this trader’s analysis seems to be spot on as Cardano broke its descending price channel in this lower time frame with some nice above-average trading volumes.

ADA has also climbed above its 200-day exponential moving average (EMA), which favors a bullish Cardano price prediction as well.

Meanwhile, the 9-day EMA just made a bullish crossover above the 200-day EMA. This is a powerful buy signal known as a ‘golden cross’ that usually precedes a big and explosive move.

The first target for ADA, based on its most relevant liquidity zones, could be set at $0.87. This means a 17% upside potential from current levels.

The Relative Strength Index (RSI) just entered overbought levels, which means that the uptrend is quite strong. In case of a pullback, the price could retreat to the 200-day EMA to raise liquidity and bounce back to resume its upward move.

The next major milestone for ADA is the $1 level — and if adoption continues to grow, the long-term path toward $10 remains firmly in sight.

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