The Cardano price has rocketed 15% over the past 24 hours, positioning for further gains as Bitcoin reaches $118,000 all-time highs, with the market increasingly focusing on altcoins like ADA that demonstrate strong fundamentals and promising technical indicators.
Currently, ADA is trading at $0.7185, marking a 24% increase over the past seven days and solidifying its position as the 10th largest cryptocurrency by market capitalization at $25.4 billion.
The recent rally was accompanied by over $1.7 billion in ADA trading volume, representing a substantial 50.12% increase in a single trading session.
Cardano Technical Analysis: Why Analysts Predict “Made in America” ADA Could Hit $100
With ADA successfully breaking above the upper resistance trendline of a falling wedge pattern, analysts are projecting a reclaim of the $1 psychological level in the short term, alongside a potential new all-time high above $3 in the medium term.
Additionally, Cardano’s status as a “Made in America” cryptocurrency, which appeared on President Trump’s strategic reserve list mentioned in March, has led many analysts to project an ambitious $100 target for ADA.
This ambitious target could materialize over the next few market cycles if Cardano successfully secures multiple ETF listings and establishes strategic partnerships across education, government, and business enterprise sectors.
On the technical front, the ADA/USDT 2-week chart displays a strong bullish bounce from the crucial support region between the 0.618 and 0.786 Fibonacci retracement levels, which previously functioned as a demand zone.
Following a consolidation period and rejection wicks below $0.60, the Cardano price has now surged to $0.7176, gaining over 22% in the latest candle formation. This particularly indicates renewed buying interest among investors.
The projected trajectory suggests a potential pullback before continuation, targeting a recovery wave toward key resistance levels at $0.9989, $1.2164, and ultimately $1.3795.
The Fibonacci structure adds to this bullish outlook, as price action reclaims levels above the golden ratio (0.618), increasing the probability of continuation if momentum remains sustained.
Should bulls successfully defend the $0.65–$0.70 region during any minor retracement, ADA could enter a medium-term uptrend targeting the $1.00 psychological zone and higher levels.
And with broader adoption expected to accelerate in the coming years, a long-term move toward $100 ADA is no longer out of the question.
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The post Cardano Price Prediction: ADA Prepares to Break Out of Descending Channel Pattern – Is $100 ADA Next? appeared first on Cryptonews.
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