Breakout Hints at 261% Surge to $2.90

TL;DR

• Cardano confirms breakout from falling wedge, now targeting $1.20 and higher in short term.
• Javon Marks sees potential 261% rally with price aiming toward $2.90 in coming cycles.
• Market Prophit sentiment split shows crowd bullish, but model warns of possible short-term caution.

ADA Price Moves Higher After Technical Breakout

Cardano (ADA) has moved up in recent sessions, trading around $0.80 after gaining 8% over the last 24 hours and over 10% in the past week. The latest price action follows a breakout from a falling wedge pattern that’s been forming since late July.

https://twitter.com/JavonTM1/status/1953670431317123079?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank

Crypto analyst Javon Marks pointed to a repeating setup seen in past ADA cycles. Each time the same pattern appeared, the cryptocurrency followed with a strong upward move. 

Based on those examples, Marks expects the price to climb back toward $1.20, a gain of over 50% from current levels. He also suggested the rally could extend further, with a long-term target of $2.90, which would represent a rise of more than 260%.

Key Levels Hold as Buyers Step In

Analyst BitMonty also confirmed the breakout, saying ADA held its buy zone between $0.68 and $0.61. This range served as support and matched key retracement levels used by many traders. Once ADA found a base, buyers pushed the price higher and broke through wedge resistance.

With the breakout in place, BitMonty marked three near-term levels to watch: $0.99, $1.10, and $1.20. The chart shows ADA moving in that direction, and volume has stayed elevated as price pushes forward.

Support and Resistance Areas in Focus

According to our weekend analysis, ADA’s the current support levels are around $0.64 and $0.70. If price holds above those points, bulls may continue to push toward resistance at $0.90. These areas are being watched closely as traders gauge momentum.

Daily trading volume reached $1.71 billion, showing that interest has returned to ADA in the short term. The recent breakout remains valid while the price stays above previous resistance levels.

Sentiment Split Between Crowd and Models

Market Prophit reported a split in sentiment. The crowd remains bullish on ADA, while the platform’s internal model has flipped bearish. This type of divergence is not uncommon after a breakout and can reflect early uncertainty in trend strength.

In a separate discussion, the SNEK meme coin community has continued its push for recognition. Contributor Rami said in a recent post that SNEK will continue to bring adoption to Cardano. The comment comes amid a broader debate involving Cardano founder Charles Hoskinson and members of the SNEK community.