Since bottoming out, ADA has staged a powerful rebound of over 150%, reclaiming the $0.67 level at the time of writing.

Cardano Price Analysis – Breakout or Bull Trap?

The daily ADA/USD chart reveals that Cardano recently broke out of a descending parallel channel, a pattern that had kept price action suppressed since mid-2025.

The breakout aligns with a strong bounce from the $0.50 support zone, where buyers stepped in aggressively to absorb selling pressure.

However, the price is now approaching a key resistance cluster near $0.70–$0.75, which previously acted as both support and rejection during past consolidation phases.

A decisive close above this zone could open the path for a strong upside continuation toward higher Fibonacci extension levels.

Source: TradingView

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