Cardano (ADA) Eyes 40% Surge as $1.05 Breakout Nears — Will Bulls Prevail?

A symmetrical triangle pattern has emerged on ADA’s price chart, a formation that often precedes a strong directional move. If bullish momentum prevails, ADA could see a rally toward $1.40 in the coming weeks.

ADA has been resilient lately and has formed three successive bullish candles on the daily chart. It forms a double-bottom reversal structure from $0.90, further ingraining positivity among investors. Cardano changes hands at $0.98, up 1.82% in today’s session.

Cardano ($ADA) is poised for a potential 40% surge as it consolidates within a symmetrical triangle, signaling an imminent breakout. Source: Ali Martinez via X

Technical indicators reveal that ADA is near completing its consolidation, with a significant change predicted in March 2025. Cryptocurrency analyst Ali Martinez stated, “Cardano is in a symmetrical triangle, getting ready for a breakout that can make a 40% price move.”

Traders are monitoring significant resistance and support levels to observe how probable an upward breakout is.

Cardano (ADA) has plotted the symmetrical triangle pattern on the 4-hour timeframe chart. Source: Ali Martinez via X

Also, the Moving Average Convergence Divergence (MACD) indicator is soon to have a bullish crossover, meaning momentum is in buyers’ favor. In addition, the 50-day Exponential Moving Average (EMA) has been supported, preventing a bearish crossover with the 20-day EMA. Fibonacci retracement levels would mean a move upwards beyond $1.05 opens ways to a continued rally.

Open interest in Cardano futures has increased by 0.51%, now standing at $1.22 billion. This rise indicates growing trader speculation ahead of the expected breakout. Nonetheless, the funding rates have fallen to 0.033%, suggesting that even with positive sentiment, a level of caution prevails.

Cardano ($ADA) is set to surge, with dominance approaching 1% and a potential 5x growth fueled by rising market cap and TVL expansion. Source: Mr Brownstone via X

Cardano’s rise is further supported by overall trends in the larger market. Bitcoin’s price holding steady at $104,000 and Ethereum’s value appreciating recently have helped boost investors’ confidence in alternative cryptocurrencies. With ADA moving in its current direction, it could soon become a leading competitor to the top assets in the cryptocurrency universe.

The coming weeks will be crucial in determining whether Cardano can break past key resistance and sustain its momentum. If ADA successfully clears the $1.05 barrier, it could trigger a rapid move toward $1.40, marking a 40% gain from current levels. However, failure to maintain momentum may lead to a retest of lower support levels around $0.90.

Cardano (ADA) price chart. Source:Brave New Coin

With strong technical indicators, rising open interest, and improving market sentiment, Cardano appears well-positioned for a significant price move. Investors will be watching closely to see whether the bulls have the strength to push ADA past its critical breakout level.