2 hours ago
757
The post Cardano Price Consolidates Before Potential Wave 3 Explosion appeared first on Coinpedia Fintech News
The Cardano price action has been at an interesting stage despite continuing to trade far below its all-time high of $3.10, set in 2021. Yet, technical formations now indicate a possible reversal phase may be approaching, which may far surpass this ATH.
A symmetrical triangle pattern has been formed by converging rising lows and descending highs of last one year that has unmistakably taken shape on the ADA price chart, reflecting an extended period of compression.
Historically, such formations often precede sharp volatility spikes, and in Cardano’s case, the longer the consolidation, the greater the potential upside move would be in play.
In recent trading sessions, the ADA price today managed to gain nearly 18%, bouncing off the crucial $0.69 support level. This price zone now serves as a pivotal base for any upcoming bullish action. If ADA continues to hold this floor, the first upside target lies near $0.95, with higher levels like $1.15 and $1.35 emerging as critical resistance points to watch before year completion.
Critical Levels Define Cardano’s Path Ahead
For now, the Cardano price USD must maintain support at $0.69 more than ever to preserve the bullish setup. This is because a sustained strength here on from above this level could confirm the triangle breakout and odds suggest that ADA might push toward the $1.15-$1.35 resistance zone, before year-end if market sentiment turns positive.
But, if momentum carries ADA price action over into 2026, projections suggest that ADA could climb as high as $1.90 or even $2, which would represent more than a 210% increase from what the current levels are when writing. However, a breakdown below $0.66-$0.69 would invalidate this bullish formation and shift focus toward lower supports areas.
The coming weeks will therefore be pivotal for ADA, as whether the ADA crypto can convert its year-long compression into an explosive uptrend.
Elliott Wave Outlook Strengthens the Bullish Case
Adding depth to the bullish narrative, an early October X post reinforced optimism with an bullish ADA price forecast that aligns with Elliott Wave theory.
The chart mapped ADA’s journey through previous market cycles, labeling 2024’s election rally as Wave 1 and 2025’s sideways movement as Wave 2 as an accumulation phase that is waiting for a powerful expansion move.
According to this wave structure, the upcoming Wave 3 is projected to drive ADA toward the $3.37 mark, typically considered the strongest phase of a bullish cycle.
The extended consolidation period seen in 2025 strengthens this theory, suggesting that ADA has been quietly building momentum beneath the surface.
Recent liquidation events may have served as a “shakeout,” removing short-term traders and clearing the path for longer-term holders to accumulate positions before a breakout.
English (US)