Cardano (ADA) Bulls Emerge from Falling Wedge Pattern as Major 2025 Upgrade Looms
2025-07-02 14:54:02
Main Idea
Cardano (ADA) shows signs of a bullish rebound from a descending channel, with potential to reach $0.70 or higher, while a major upgrade called Leios is anticipated for its mainnet.
Key Points
1. Cardano (ADA) has rebounded from a descending channel after reclaiming the $0.5585 support zone, indicating short-term bullish momentum.
2. Market analyst Lingrid suggests a breakout could target $0.70, with a decisive move potentially reaching $0.79 (a 34% rally), contingent on sustained buying pressure.
3. If the breakout fails, ADA may remain range-bound or drop to lower support levels like $0.50.
4. At the time of writing, ADA was trading around $0.5617.
5. A major upgrade, Leios, is expected to launch on the Cardano mainnet soon.
Description
Cardano (ADA) continues to trade among the top ten cryptocurrencies as a network anchored on academic and peer-reviewed research. After being in bear territory in the past month, based on a 25.3% drop, Cardano seeks to dust itself off after finding a robust support base. Market analyst Lingrid pointed out, “ ADA is rebounding strongly from the base of a descending channel after reclaiming the 0.5585 support zone. The price structure shows a shift in momentum, forming higher lows as it targets a ...
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