Cardano’s ADA Token Nears 13% Breakout at $0.67 Resistance

Cardano’s ADA token is exhibiting signs of renewed strength as traders closely monitor a critical resistance level. After several months of cautious buying on medium timeframes, the asset appears to be positioning for a potential breakout. Market observers note that the formation of sustained higher lows over the past two years indicates steady accumulation, fueling growing anticipation of a bullish reversal.

Currently, ADA is trading just below the $0.605 mark, fluctuating within a long-term descending channel. Analysts have identified the $0.67 level as a key resistance point. If this level is surpassed, it could pave the way for a larger rally. Technical strategist Ali noted that a daily close above $0.67 could trigger a price move toward the $0.83 to $0.91 range. This prediction is based on Fibonacci retracement levels, which reflect the asset’s repeated bounces from support areas, including $0.6231. These patterns suggest that bullish momentum is gradually building as the asset approaches this critical threshold.

Traders from XForceGlobal highlighted that Cardano’s market structure reflects consistent accumulation. They observed that each new low has been followed by protection of previous lows, indicating smart money interest. Over the past two years, ADA has shown a clear trend of forming higher lows, reinforcing the possibility of an eventual upward breakout. In terms of market structure, analysts see a potential Elliott Wave pattern forming—a leading expanding diagonal. This variation accounts for the asset’s wide price swings and adds to the case for long-term bullish behavior. According to chart watchers, such a pattern often precedes strong moves in volatile assets.

The broader technical setup shows ADA moving steadily within a descending price channel since Q1 2025. This structure has guided the asset’s price behavior for several months, capping both highs and lows. However, the asset now appears to be challenging this pattern, with the $0.67 level acting as a breakout trigger. If ADA closes above that point on the daily chart, it would signal a departure from the bearish formation. Ali believes such a breakout could invite new buying pressure, reinforcing bullish momentum toward the next Fibonacci levels near $0.83. With a recent 7-day uptick and strong technical backing, ADA’s setup is attracting retail and institutional traders. The long-term accumulation, higher lows, and pattern alignment may point to a major shift ahead. As the price approaches the crucial $0.67 barrier, Cardano’s next few sessions could decide the near-term direction for the crypto asset.