Cardano Price Prediction: Chart Pattern Shows Next Move is 1,000% Rally or 50% Drop

Altcoin season is gaining momentum, and capital rotation into top-tier tokens like Cardano (ADA) is accelerating — supporting a bullish Cardano price prediction at this stage of the cycle.

In the past 24 hours alone, ADA’s trading volume has surged by 77%, topping $1 billion and representing 3% of its total circulating supply, as the token gains 3% and flashes renewed strength on the charts.

Cardano $ADA must push past $0.84 to confirm this bullish breakout! pic.twitter.com/iIJGP3H2Eg

This token’s latest price action has pushed its yearly performance to positive territory, resulting in a 1% gain since the year started.

This week, the market will set its eyes on inflation data in the United States, which is scheduled to be released on Thursday.

The head of the U.S. Federal Reserve, Jerome Powell, has already confirmed that the central bank is ready to cut rates for the first time this year and analysts believe that this will happen during next week’s FOMC meeting.

This supports a bullish Cardano price prediction as it improves market conditions, increases appetite for high-risk financial assets, and boosts liquidity in the near term.

The daily chart shows that ADA has broken out of a descending channel and seems to have started its climb toward much higher ground.

Source: TradingView

The market seems ready for its next leg up as an uptrend has surfaced after this bullish breakout. However, a retest of the upper bound of this price channel from above could be expected in the next few days.

Depending on what the price does after it, we could either expect a strong rally toward $10 that results in huge gains for investors in the near term or a 50% drop to the $0.48 level if a failed retest unfolds.

A divergence has popped up in the Relative Strength Index (RSI) that supports a bearish Cardano price prediction as the oscillator has made a lower high while the price kept climbing. This means that positive momentum could be fading.

However, as long as that former trend line resistance acts as support, the $10 scenario will continue to be in play, especially at a point when market conditions remain quite favorable.

Meanwhile, as top altcoins continue to outperform Bitcoin and capital rotates to more exotic corners of the market, the best crypto presales like Maxi Doge ($MAXI) could outperform well-established tokens like Cardano.

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