Cardano Breakout Targets $1.35 as Bullish Momentum Builds Toward $3.00 Potential
Cardano price is moving closer to the $1.00 threshold as market participants watch for potential impacts from an upcoming ETF decision that could fuel additional bullish momentum. Following months of consolidation within a narrow trading range, Cardano has successfully escaped from a prolonged descending triangle formation.
The breakthrough above the $0.64 to $0.65 resistance zone represents a significant change in market dynamics, with weekly trading volumes increasing and price movements indicating consistent accumulation activity.
Technical Breakout Signals Renewed Bull Run
Cardano’s weekly chart displays a clear breakout from its long-term descending triangle, a formation that typically indicates the conclusion of a bearish phase. This breakout follows months of price action that respected the upper trend line while establishing progressively higher lows. The pattern demonstrates ongoing accumulation pressure, with the breakout candle pushing beyond the $0.64 to $0.65 range that previously served as a resistance ceiling. Weekly volume data also shows an upward trend, reinforcing the concept of a fundamental momentum shift.
Here it is boys. target 1.80 breakout from the bullflag
ADA Cardano pic.twitter.com/zSGlqB07eO— TYLER BURKE (@IMTYLERBURKE) March 14, 2025
The upcoming critical zone centers around $1.00, where ADA previously experienced significant selling pressure. Successfully moving past this level would result in minimal historical resistance until reaching the $1.50 to $1.60 range, with technical projections indicating potential movement toward $3.00 over extended timeframes. The breakout’s legitimacy will rely on ADA maintaining positions above the previous resistance trend line, effectively converting it into a support level.
Large Holder Activity Supports Bullish Outlook
Recent derivatives information from TapTools reveals that 75.42% of significant market participants on Hyperliquid currently maintain long positions on ADA, while just 24.58% hold short positions. This preference for long exposure demonstrates substantial conviction among major holders, correlating with the recent breakout from the descending triangle formation.
From a technical analysis perspective, this positioning could serve as a catalyst if prices continue maintaining levels above the $0.64 to $0.65 breakout area. Consistent participation from large holders frequently strengthens important support levels, decreasing the probability of significant pullbacks. Should ADA preserve this degree of major holder support, the chances of testing higher resistance points at $1.00 and above become more realistic.
Current order book information from CW8900 indicates that Cardano’s upcoming major supply areas are concentrated near $0.85 and $0.93. These levels represent zones where sellers have previously been active, creating potential obstacles for the current upward movement. The recent advance from below $0.80 has positioned ADA within range of the first resistance wall, and trading activity is starting to increase as price approaches this region.
From a technical standpoint, a clean break through $0.85 would create a more direct route toward the $0.93 level, where additional selling interest is anticipated. If both zones are absorbed with strong volume support, ADA could build momentum toward the $1.00 psychological barrier.
Cardano’s 3-day chart displays a clean breakout from a falling wedge pattern, a configuration commonly linked with bullish reversals. The breakout occurs after several unsuccessful attempts to penetrate the wedge’s upper trend line, with the most recent movement closing definitively above it. This formation positions ADA to test the $1.00 level in the intermediate term, with $1.35 serving as the subsequent major technical objective if momentum continues.
Additional analysis suggests that ADA has historically produced sharp 200% to 300% movements during favorable market conditions. From a technical perspective, the current setup above $0.80 places ADA within range of rapid extension toward $3.00 if buying pressure intensifies. This corresponds with previous breakout patterns, where maintaining key reclaimed levels often precedes strong impulsive movements. While timing remains uncertain, the combination of technical structure, large holder positioning, and market psychology supports the potential for such aggressive movement under appropriate macro conditions.
Market Implications
The combination of technical breakouts and heavy institutional positioning suggests Cardano could see significant upward price movement in the near term. A successful push through current resistance levels may trigger broader altcoin momentum as investors seek alternative opportunities beyond Bitcoin and Ethereum.