Cardano consolidates in a symmetrical triangle – Analyst sets price target for fall/rise

Cardano has increased by over 40% from the lows earlier in April, signaling renewed bullish interest across the altcoin space. As the broader crypto market faces macroeconomic instability and consolidates just below key resistance levels, ADA is now entering a critical phase. Price action remains range-bound, but sentiment is shifting as investors pay attention to key technical patterns that could determine the next move. Top analyst Carl Runefelt recently emphasized that Cardano is consolidating in a symmetrical triangle on the 4-hour chart—a pattern that often precedes strong breakouts. This technical formation suggests that ADA is getting ready for a decisive move, with buyers and sellers struggling for control in the short term. The current range continues to tighten into the weekend, with volatility expected to return as the breakout direction is confirmed. A move above $0.7730 will indicate a continuation of the bullish trend and could trigger another rally towards the $0.85–$0.90 range. On the other hand, losing support near $0.6280 may cause a broader correction. As long as ADA maintains its structure and stays above the key moving averages, the bullish trend remains intact. Cardano is poised to break out as buyers regain control in the short term. Cardano is showing strong signs despite trading within a tight consolidation range just below the $0.75 mark. After rising over 40% from the early April lows, ADA has entered a critical phase, with buyers gradually regaining control. Recent price action indicates that a breakout may be imminent, especially if ADA maintains the current support level and builds additional momentum. Over the past few days, Cardano has been trading sideways, struggling to break through the $0.75 resistance. While this range-capping move has disappointed some traders, it also reflects the stability of the market, a common precursor to major directional moves. If buyers try to push ADA above the $0.7730 resistance, a sustained rally is possible, potentially targeting the $0.85 and even $0.90 zones. Runefelt has shared technical insights indicating that Cardano is forming a symmetrical triangle on the 4-hour chart, a structure that often precedes strong breakout moves. The top of the triangle is approaching, meaning a decisive move is likely to occur in the coming sessions. The main bullish breakout level remains at $0.7730. On the other hand, a break below the support level of $0.6280 would invalidate the bullish structure and could trigger a wider pullback.

Overall, Cardano is still in a good position to be bullish if it can reclaim the resistance level and confirm the breakout. Bulls will need to step in decisively to avoid a prolonged fakeout or consolidation. As the broader crypto market consolidates near the highs, ADA's setup is one of the most promising among large-cap altcoins. The next move could shape Cardano's trend in the coming weeks. ADA Price Analysis: The Consolidation Continues Cardano (ADA) is currently trading at $0.6963, consolidating just below the 200-day moving average (SMA) at $0.7766 and slightly lower than the 200-day exponential moving average (EMA) at $0.7113. This tightening indicates that a critical moment is approaching, especially as ADA attempts to maintain its position above the short-term support level of $0.67.

The price action on the daily chart shows that ADA has fluctuated in a narrow range after recovering 40% from its April low. Although the broader market shows strength, the ADA has yet to break through the confluence of overhead moving averages—a necessary step to decisively overturn the market structure in a bullish direction. The level of $0.77-$0.78 remains a significant resistance level to reclaim. A daily close above this range could confirm the breakout and push ADA towards the psychological milestone of $1.00, with the most recent test occurring in early January. The trading volume is relatively weak during this consolidation phase, which often occurs before a major move. On the negative side, losing the $0.67 level would be a bearish signal and could open the door to retest the $0.62 level or even $0.58.