- Cardano shows signs of potential bullish continuation according to analysts.
- Rose Premium Signals identifies falling wedge structure retest as key support.
- Price targets suggest possible gains of 71% to 159% if support holds.
Cardano (ADA) appears positioned for a potential bullish breakout, according to recent technical analysis from prominent market watchers. Rose Premium Signals has identified a bullish reversal pattern on the ADA chart, suggesting the possibility of significant upside if key support levels hold.
In a March 20 commentary shared on X, Rose Premium noted that the blue-chip cryptocurrency is currently retesting a falling wedge structure. According to the analysis, a successful rebound from this technical pattern could trigger a substantial rally to significantly higher price levels.
The recent price action follows Cardano’s breakout from a falling wedge formation on February 13, which occurred after several months of consolidation following its December high of $1.327. After this breakout, ADA showed moderate upward momentum before bouncing strongly from support around $0.65 on March 2.
This price movement coincided with President Donald Trump’s announcement regarding the U.S. strategic crypto reserve, which boosted sentiment across the cryptocurrency market.
Rose Premium emphasized that while the current retracement to retest the falling wedge structure might appear bearish in the near term, it represents a necessary technical development for establishing a sustainable upward trajectory. The analyst suggests that a successful retest of the $0.65 support zone could trigger a momentum reversal leading to a strong uptrend cycle.
The analysis outlines three potential price targets if ADA successfully defends its support level. The first projection indicates a possible 71% surge to $1.2265, approaching the price high established within the falling wedge pattern. More ambitious second and third targets suggest rallies of 112% and 159% from current prices, potentially reaching $1.5230 and $1.8612 respectively.
Rose Premium cautions that Cardano must successfully defend its support level to maintain the possibility of this uptrend materializing. Additionally, breaking above the local resistance around $0.82 would provide confirmation of the bullish continuation pattern.
Supporting this optimistic outlook, another analyst known as “Man of Bitcoin” has also identified ADA’s potential for resuming upward price momentum. In a separate analysis shared on X, this market watcher observed that Cardano is currently trading within a sideways range, with future price development likely determining its medium-term direction.
According to Man of Bitcoin, a break above the range resistance at $0.777 would establish a bullish precedent for higher prices. Conversely, a drop below $0.650 could signal further corrections, potentially leading to retracements toward $0.580 and possibly as low as the 0.618 Fibonacci level at $0.533.
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