- Cardano (ADA) is consolidating inside a tightening symmetrical triangle, with support at $0.85–$0.88 and resistance at $0.95–$0.98, setting up for a breakout soon.
- On-chain data shows over 15B ADA held long-term and 5.5M wallets active, suggesting strong accumulation and growing adoption.
- If ADA clears the $1.15 resistance with volume, it could rally toward $1.30–$1.35, while failure risks a breakdown toward $0.80.
Cardano’s price action is coiling up inside a tightening symmetrical triangle, a pattern that often precedes big directional moves. Buyers and sellers are locking horns, with ADA hovering between support at $0.85–$0.88 and resistance near $0.95–$0.98. Volume has tapered off as the structure develops, the kind of calm-before-the-storm setup that usually comes right before a breakout.
If bulls manage to push ADA above the upper trendline, the measured move points to around $1.10. But the flip side looks risky too—falling under support could drag the token back to $0.80, a zone that’s been heavy with liquidity in the past.
The Big Wall at $1.15
Even if ADA clears the triangle, a major ceiling still looms at $1.15. This level has repeatedly shut down rallies, each time sending price lower with sharp rejections. Traders are watching closely for a strong close above $1.15, ideally with big volume, to confirm any real breakout strength. Should ADA finally blast through, targets stretch higher toward $1.30–$1.35.
Supply and On-Chain Signals
Cardano’s fundamentals add weight to the bullish case. More than 15 billion ADA has sat untouched for over a year, showing strong conviction among long-term holders. That kind of dormant supply reduces sell pressure, something we’ve seen before major rallies in previous cycles.
At the same time, network growth hasn’t slowed—Cardano just crossed 5.5 million wallets, reflecting steady adoption and more people willing to hold for the long run. Search interest for “altcoin” is also climbing back to levels last seen in 2021, hinting that retail attention may be warming up again.
Derivatives and Market Setup
On the derivatives side, the signals are a bit mixed. Trading volume fell 12.42% to $5.20 billion, but open interest actually climbed 5.28% to $1.86 billion, meaning traders are positioning for volatility ahead. The funding rate is sitting at 0.0108%, which shows the market is neutral with no strong bias toward longs or shorts.
With ADA now trading around $0.95, right near the apex of its triangle, the market feels like it’s in equilibrium. But compression like this doesn’t last forever. The setup suggests that a breakout—either up toward $1.10 and beyond, or down to $0.80—is getting closer by the day.
