Cardano Price Prediction: $1.46 Possible?

Last week turned out to be good for Cardano (ADA) price as it steadily climbed the charts gaining substantially.

At the time of this writing, ADA was trading near $0.7200, noting an over 12% weekly hike. This move followed a breakout above a multi-month descending wedge.

According to analyst Justin Wu, the breakout pattern contained ADA’s trend since February.

Other analysts also confirmed bullish signals for Cardano price. Resistance levels at $1.24 and $1.46 have now emerged as the new targets. Volume rose steadily, and ADA’s bullish structure remained intact on both daily and weekly charts.

Breakout Above Cardano Price Multi-Month Wedge Confirmed

Analyst Justin Wu noted that Cardano price broke out of a descending wedge pattern between April 11 and 12.

This wedge has capped ADA’s gains at $0.065 for more than two months. At the same time, the top altcoin created lower highs and lower lows, which can be seen as a textbook consolidation.

After the breakout, ADA price rose by more than 8% in the following 24 hours of trading. Wu supported this move using trendline validation and volume confirmation. ADA crypto price then consolidated at $0.51 for several sessions and signified the bullish reversal.

Moreover, Wu identified two resistance zones at $1.27 and $1.4642 based on the previous supply levels. If the price increases from $0.7195 to $1.4642, it would be a 103.5% surge. He also claimed that the breakout is more solid compared to previous attempts because of the technical aspect and momentum.

Rising Channel and Accumulation Zone Support Upside

Analyst CryptoPatel also noted that ADA price had experienced strong accumulation within the $0.45 to $0.65 range. This zone provided consolidation support during March and early April. Market players supported these levels, which led to the recent rise.

After the recovery from the $0.51 price level, Cardano price has formed a higher high and higher low formation. That confirmed a medium-term trend shift in favor of the bulls. Cardano price then moved beyond the upper boundary of the accumulation zone, opening up further upside potential.

CryptoPatel also pointed out a rising channel visible on the weekly chart. The channel’s support had held for three consecutive months. When writing, ADA was approaching mid-channel resistance. His long-term projection reached $5, but he emphasized that $1.24 and $1.46 needed to be cleared first.

Historical Setup Shows $2.91 as Potential Target for Cardano Price

Javon Marks also highlighted a historical setup similar to the current pattern in his X post. In 2021, Cardano price had also broken out of a long consolidation structure, which led to a near 300% gain. His model projected a possible climb toward $2.70–$2.91.

Marks emphasized that price momentum following wedge breakouts often mirrors prior cycles. In this case, ADA used the same accumulation zone at $0.51 as a springboard. He noted that this alignment added credibility to the current bullish setup.

Marks also used Fibonacci projections to support his $2.91 target. However, he added that clearing $1.46 was essential to unlock that potential. His charts suggested this level would act as the final resistance before Cardano price enters a more aggressive price discovery phase.

Analysts Agree on $1.24 and $1.46 as Major Resistance

Carl Moon supported Wu’s analysis by mapping a descending channel that ADA price recently breached. His chart indicated ADA’s next resistance lay at $1.24, a key level tested in January. That previous test had resulted in a price rejection and short-term correction.

Moon described the current breakout as structurally stronger than previous attempts. He credited sustained volume and a more gradual ascent for reducing volatility. ADA’s recent rise from the $0.65 level confirmed a strong demand base.

Notably, Wu and Moon pointed out that breaking above $1.24 would be crucial for further gains. Should Cardano price push beyond this resistance with high volume, the path toward $1.46 would likely open. At that point, a test of higher resistance zones could come into play.

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